Triton School Board approves three bond related resolutions

James Master
Staff Writer

BOURBON — The bond project for the new renovations and new gym were discussed at the Triton School Corporation’s School Board meeting on Monday, Aug. 14. The board passed three resolutions concerning the project.
The first resolution stated that the board acknowledged that there was a need for the project. The second resolution approved the Form of Lease and authorized publication of Notice of Hearing on Lease. The last resolution approved the creation of a building corporation.
“It would actually purchase a portion of the school considering the gymnasium and vacant real estate adjacent to that, where the auxiliary gym will be constructed. They will actually buy that property and then build the new gymnasium and lease the gym and the property back to the school as part of the financing mechanism,” said Attorney James Clevenger.
The board then appointed Jordan Ickes, Wes Rettinger, and Geneal Walters as members of the building corporation.
Clevenger clarified that the board was not approving the lease itself, only the form of lease. He also informed the board that since Indiana law states that the courts appoints the appraisers Clevenger will be meeting with Marshall County Judge Kurt Palmer concerning this issue.
The property owned by the building corporation will revert back to the school corporation after all the payments have been made, according to Clevenger.
“You’re providing funding for the whole project. This is just a mechanism to get around the constitutional debt limits that the state has put on school corporations,” said Clevenger.
For the full article concerning the rest of the Triton School Board meeting, look for it in the Aug. 24 edition of The News-Mirror.