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

What happened

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 Current debt-service levy, just under $13 million, 24:40 The $12.99 million figure is a levy-dollar request, not a fixed tax rate. Capacity illustration holds the 2026 levy-dollar request, 20:28 The illustration used a 4.63% interest-rate assumption and projected $91.3 million in interest over the life of the bonds. 4.63% rate assumption, $91.3M interest, 21:13 A board member said using all of the existing debt-service capacity made him nervous and asked whether the plan left enough flexibility. Board member questions using all existing capacity, 26:25 The superintendent said that, if the county could not help fund another high-school project, the school board would need to choose among projects. If the county can't help, a choice between schools, 33:29

The outcome

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

Sources

Also known as: school bonding capacity · $160 million bond capacity · county bonding partnership · debt service levy · Option 6.2 financing · Vigo County Schools bond capacity · new high school financing · Ice Miller Baker Tilly presentation