NOTICE OF PRELIMINARY DETERMINATION OF
LaVILLE COMMUNITY SCHOOLS
Owners of real property, and registered voters residing in, the School District of the LaVille Community Schools (the “School Corporation”), are hereby given notice that the Board of School Trustees of the School Corporation (the “Board”), having held meetings and two separate public hearings pursuant to Indiana Code 6-1.1-20-3.1 and Indiana Code 5-3-1, on July 13, 2026, at 6:30 p.m. at the LaVille Jr.-Sr. High School Media Center, 69969 US 31 South, Lakeville, Indiana 46536, adopted a resolution (the “Resolution”) making a preliminary determination to undertake (a) (i) interior renovations and upgrades at the Jr-Sr High School and Elementary School, including, but not limited to, painting, installation of new flooring, flooring repairs, wallpaper repairs and replacements, roofing repairs and replacements, window repairs and replacements, HVAC and plumbing repairs and replacements, lighting replacements and upgrades, and other related capital repairs and renovations, (ii) upgrades and renovations to the Jr-Sr High School and Elementary School offices, (iii) safety upgrades and improvements at all School Corporation facilities, including but not limited to entry system, public address system and technology upgrades and improvements, (iv) resurfacing and repair of blacktop, asphalt, concrete sidewalks and parking areas at all School Corporation facilities, (v) other capital improvements, equipping, upgrades and renovations at all School Corporation facilities, and (vi) acquisition of buses and other equipment for use by the School Corporation ((a) (i) through (vi) collectively, the “Project”), and (b) to the extent permitted by law to take all of the necessary steps to finance all or a portion of the costs of the Project by issuing general obligation bonds of the School Corporation (the “Bonds”).
The total maximum original aggregate principal amount of the Bonds will not exceed $2,640,000. The Bonds will mature not later than January 15, 2032. Based on the estimated interest rates that will be paid in connection with the Bonds of 5.50% per annum, the total interest cost associated therewith will not exceed $477,000, not taking into account any funds of the School Corporation being available for capitalized interest. The School Corporation’s total debt service fund tax levy for 2026 (which is the most recent certified tax levy) is $2,691,646 and the School Corporation’s debt service fund tax rate for 2026 (which is the most recent certified tax rate) is $0.5575 per $100 of assessed value. The School Corporation’s estimated total debt service fund tax levy for 2027 is $2,691,646 and the School Corporation’s estimated debt service fund tax rate for 2027 is $0.5575 per $100 of assessed value. The estimated total maximum debt service fund tax levy for the School Corporation and the estimated total maximum debt service fund tax rate for the School Corporation after the issuance of the Bonds are anticipated to occur no earlier than 2027 and will be $2,691,646 and $0.5575 per $100 of assessed value, respectively, as a result of the payment of the debt service on the Bonds. The maximum annual debt service to be paid by the School Corporation for the Bonds is $1,172,642 and the maximum total debt service over the term of the Bonds is $3,117,000.
The estimated amount of the School Corporation’s debt service levy and rate that will result during the following 10 years if the School Corporation issues the Bonds, after also considering any changes that will occur to the debt service levy and rate during that period on account of any outstanding bonds or lease obligations that will mature or terminate during that period is as follows:
Estimated Total Estimated Total
Year Debt Service Levy Debt Service Rate
2027 2,691,646 0.5575
2028 2,691,646 0.5575
2029 2,494,696 0.5167
2030 1,460,100 0.3024
2031 1,460,100 0.3024
2032 1,460,100 0.3024
2033 1,460,100 0.3024
2034 1,460,100 0.3024
2035 1,396,900 0.2893
2036 952,050 0.1972
Note: Estimates assume 2026 certified net assessed value. It is anticipated that the Bonds will mature on January 15, 2030.
The estimated completion date for the Project is within three years of the issuance of the Bonds.
The result of the School Corporation’s current and projected annual debt service payments divided by the net assessed value of taxable property in the School Corporation is 0.60%. The result of the sum of the School Corporation’s outstanding long-term debt plus the outstanding long-term debt of other taxing units in the School Corporation divided by the net assessed value of taxable property in the School Corporation is 5.10%.
Any owners of real property within the School District of the School Corporation and/or registered voters residing in the School District of the School Corporation who want to initiate a petition and remonstrance process against the proposed debt service for the Bonds must file a petition requesting the application of a petition and remonstrance process with the St. Joseph or Marshall County Voter Registration Office which complies with Indiana Code 6-1.1-20-3.1 not later than thirty (30) days after the date of publication of this notice.
EXECUTED this 14th day of July, 2026.
BOARD OF SCHOOL TRUSTEES OF LaVILLE COMMUNITY SCHOOLS
By: Dawn Amor, Secretary
July 16, 23, 2026 HSPAXLP