EVANSVILLE — The Brandon-Evansville School Board voted to access the remainder of its voter-approved bond authority at its regular meeting Monday night.
The amount approved was $720,000 for a 20-year term.
The school board held a special meeting on Sept. 12 to address the overall project, the cost of which is being affected by inflation.
According to the meeting minutes of the special meeting, the funds being used to complete the project break down as follows:
- $14,501,337 voter-approved bond proceeds.
- $561,792 in Capital Facilities Bond proceeds.
- $407,000 ESSER dollars.
Prior to Monday's approval of the bond authority, there was a $2 million inflation-related gap that needed to be filled.
The school board also approved setting the levy at the state's maximum amount. The initial levy limitation was set at $249,892.35. Limitation adjustments amounted to $32,944.08, making a total levy of $282,836.43.
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At a special election held last November, voters approved the issuance of up to $14,500,000 of general obligation school building bonds.
The district previously issued $9,405,500 in general obligation school building bonds on Dec. 30, 2021, and $4,375,000 in general obligation school building bonds on Feb. 22.
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