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FrictionVigo County Oversight Board · Feb 26, 2026 · This meeting · Full transcript

Board member questions an illustration that uses Vigo County Schools' full existing bonding capacity

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At the Vigo County Oversight Board, an Ice Miller and Baker Tilly presentation illustrated a three-year 2026-2028 program in which Vigo County Schools could issue up to $160 million in bonds while holding its 2026 debt-service levy dollar request at $12.99 million. Capacity illustration holds the 2026 levy-dollar request, 20:28 Illustration covers a three-year 2026-2028 program, 20:45 $160 million total borrowing capacity, 25:16 0:24:40 — open the recording, cued to 24 minutes 40 seconds

The $12.99 million figure is a levy-dollar request, not a fixed tax rate. 0:20:28 — open the recording, cued to 20 minutes 28 seconds

The illustration used a 4.63% interest-rate assumption and projected $91.3 million in interest over the life of the bonds. 0:21:13 — open the recording, cued to 21 minutes 13 seconds

A board member said using all of the existing debt-service capacity made him nervous and asked whether the plan left enough flexibility. 0:26:25 — open the recording, cued to 26 minutes 25 seconds

The superintendent said that, if the county could not help fund another high-school project, the school board would need to choose among projects. 0:33:29 — open the recording, cued to 33 minutes 29 seconds

More from the record

Outcome

No vote taken; the presentation was informational.

No vote was taken on the presentation; the board adjourned after public comment. Board adjourns after public comment, 1:14:15

Board adjourns after public comment — cued to 1:14:15 (1 hour 14 minutes 15 seconds)

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