Details for NOTICE TO TAXPAYERS REGARDING DETERMINATION OF THE NORTH GIBSON SCHOOL CORPORATION, GIBSON COUNTY, INDIANA TO ENTER INTO A PROPOSED SECOND AMENDMENT TO LEASE FACILITIES OPERATED BY THE SCHOOL CORPORATION

NOTICE TO TAXPAYERS REGARDING DETERMINATION OF THE NORTH GIBSON SCHOOL CORPORATION, GIBSON COUNTY, INDIANA TO ENTER INTO A PROPOSED SECOND AMENDMENT TO LEASE FACILITIES OPERATED BY THE SCHOOL CORPORATION

The taxpayers of the North Gibson School Corporation, Gibson County, Indiana (the “School Corporation”), are hereby notified that on December 17, 2018, the Board of School Trustees of the School Corporation (the “Board”), did adopt a resolution determining that the School Corporation will take all actions necessary to enter into an amendment to an existing lease (the "Second Amendment to Lease"), between the North Gibson Multi-School Building Corporation as lessee, which in turn will be allow the Building Corporation to issue one or more series of first mortgage bonds ( the terms of the proposed Second Amendment to Lease. The Bonds may be issues in one or more series issues in an original aggregate principal amount anticipated not to exceed Ten Million Six Hundred Fifty-Five Thousand Dollars ($10,655,00), for the purpose of procuring funds to pay for all or a portion of the 2019 Primary School North Renovation/Expansion Project, as defined and fully described in the resolution adopted by the Board on September 24, 2018, together with the cost of issuance of the Bonds. The proposed lease, as amended by the Second Amendment to Leas (collectively, the Lease"), will have an increased term not to exceed twenty-two (22) calendar years (which is an additional eleven (11) years beyond the current final term of the Lease, assuming the first addendum to the Second Amendment to Lease is recorded no later that December 31, 2019) and for an increased annual lease rental not to exceed One Million Seventy-Five Thousand Dollars ($1,075,000) (which amount is net of any funds received by the School Corporation of the Building Corporation from the United States of America as a result of any or all of the Bonds being issued under one or more federal tax credit programs) during this period of time, payable in semiannual installments commencing no earlier that June 30, 2020, and thereafter on June 30 and December 31 of each year during the reaming term of the Lease.

Dated this 19th day of December, 2018.

North Gibson School Corporation, Gibson County, Indiana

By: Dr. Brian Harmon, Superintendent

PDC 12/19,12/26 HSPAXLP

NORTH GIBSON SCHOOL CORPORATION, GIBSON COUNTY, INDIANA

By: Dr. Brian Harmon, Superintendent

PDC 12/18, 12/25

hspaxlp

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