Notice of Adoption of Preliminary Determination (Clarks Creek Elementary School) Notice is hereby given pursuant to Indiana Code 6-1.1-20-3.1 that the Board of School Trustees of Plainfield Community School Corporation did, on August 11, 2016, make a preliminary determination to enter into a lease for the renovation of and improvements to Clarks Creek Elementary School (the "Project"). The lease will be for a maximum term of 17 years with a maximum annual lease rental of $845,000. The maximum annual lease rental has been estimated based upon an estimated principal amount of bonds of 9,255,000 and estimated interest rates ranging from 1.00% to 3.50% and total estimated interest costs of $2,500,000. The School Corporation's current debt service levy is $13,597,425 and the current rate is $0.6572. After the School Corporation enters into the proposed lease and the bonds are issued, the debt service levy will increase by a maximum of $845,000 and the debt service rate will increase by a maximum of $0.0408; however, as other debt is repaid, the net increase to the debt service tax rate is expected to be $0. The purpose of the lease is to provide for the construction of the Project. Any owners of real property within the School Corporation or registered voters residing within the School Corporation who want to initiate a petition and remonstrance process against the proposed lease payment must file a petition that complies with IC 6-1.1-20-3.1 subdivisions (4) and (5) not later than 30 days after the first publication of this notice. Dated August 17, 2016. Jessica Elston Secretary, Board of School Trustees Plainfield Community School Corporation HCF-621 08/17 & 24 hspaxlp
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