The Indiana School District will explore the option of defesance for the 2016 bonds.
At last night’s school board meeting, the board approved a motion to direct the administration to explore the defesance option, which in this case would void the 2016 bonds issued to the district for the proposed Ben Franklin Elementary project by setting aside cash or bonds to pay back the debt. Board president Doug Steve said that they were looking at this action to make sure that all options concerning the 2016 bonds, and believes that in the long run, defeasing the bonds now will save the district a lot of money later.
Some in attendance are against paying back the bonds, saying the money could be better used for other purposes like school security or building upgrades.
In other business, the board authorized the administration to apply for State Department of Education’s office of Safe Schools for two grants for a school police officer and for security materials. The board also approved a contract with Armstrong Lock and Security for an armed security guard at the High School and other district events deemed necessary by the administration.
Finally, the board appointed Greg Lezanic as the new athletic director, taking over for the retiring Pat Snyder.
