NOTICE TO TAXPAYERS Complete details of the Bus Replacement Fund plan may be seen by visiting the office of this unit of government at the following address: 2720 California Road, Elkhart, IN 46514. Notice is hereby given to taxpayers of Elkhart Community Schools that the proper officers of Elkhart Community Schools will conduct a public hearing on the year 2017 proposed Bus Replacement Fund Plan pursuant to IC 20-46-5. Following the public hearing, the proper officers of Elkhart Community Schools may adopt the proposed plan as presented or with revisions. Public Hearing Date: September 13, 2016 Public Hearing Time: at 7:00 pm Public Hearing Place: 2720 California Road, Elkhart, IN 46514 Taxpayers are invited to attend the meeting for a detailed explanation of the plan and to exercise their rights to be heard on the proposed plan. If the proposed plan is adopted by resolution, such plan will be submitted to the Department of Local Government Finance for approval. The following is a general outline of the proposed plan: No. of Buses to be Total Estimated Year No. of Buses Owned Replaced Replacement Cost Total Contract Costs 2017 146 12 1,447,402 - 2018 146 12 1,526,061 - 2019 146 12 1,824,607 - 2020 146 12 1,798,945 - 2021 146 12 1,930,580 - 2022 146 12 2,150,524 - 2023 146 12 2,069,443 - 2024 146 12 2,080,520 - 2025 146 12 2,206,576 - 2026 146 12 2,260,074 - 2027 146 13 2,576,288 - 2028 146 13 2,039,180 - SOURCES AND ESTIMATES OF REVENUE 2017 1) Projected January 1 Cash Balance - 2) Less: Encumbrances Carried Forward from Previous Year 30,894 3) Estimated Cash Balance Available for Plan (Line 1 minus Line 2) (30,894) 4) Property Tax Revenue 1,741,743 5) Estimated Property Tax Cap Credits (show as a negative) (100,000) 6) Auto Excise, CVET and FIT receipts 130,894 7) Other Revenue - TOTAL FUNDS AVAILABLE FOR PLAN (Add lines 3, 4, 5 and 6) 1,741,743 August 26 hspaxlp
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