VCSC Holds School Improvement Hearing

The Vincennes Community School Board held a 10-28 based hearing this morning, concerning improvements to a secondary school building, and other facilities. The hearing is one of two the Board must hold on the project; the other will happen on February second.
The hearings concern renovations, repairs, and upgrades at both Clark Middle School and Lincoln High School. The Corporation plans to issue bonds not to exceed just over 16-million dollars; officials will also make various leases to help pay for the new work. The bond term would be for 30 years, with 22 years the term for the leases. The interest rate cap on the work is 5-point-5 percent.
The current Corporation tax rate for debt service is around 53 and a half cents per 100 dollars in assessed property value. With the bond issue, the debt service will ruse to just about 65 and a half cents per hundred, starting with the 2026 tax assessment, payable in 2027.
Anyone with petitions or remonstrance requests concerning the project can get that information from the Knox County Clerk’s Office.