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: Middlebury Community Schools Administration Center, 56853 Northridge Drive, Middlebury, IN 46540. Notice is hereby given to taxpayers of Middlebury Community Schools that the proper officers of Middlebury 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 Middlebury Community Schools may adopt the proposed plan as presented or with revisions. Public Hearing Date: September 20,2016 Public Hearing Time: 4:00 p.m. Public Hearing Place: Middlebury Community Schools Administration Center, 56853 Northridge Drive, Middlebury, IN 46540 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 plat 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: Year No. of Buses No. of Buses to be Total Estimated Total Contract Costs Owned Replaced Replacement Cost 2017 56 5 $480,630 2018 56 5 $480,630 2019 56 5 $480,630 2020 56 5 $480,630 2021 56 5 $480,630 2022 56 5 $480,630 2023 56 5 $480,378 2024 56 2 $192,252 2025 56 4 $347,000 2026 56 5 $444,000 2027 56 5 $485,000 2028 56 5 $485,000 SOURCES AND ESTIMATES OF REVENUE 2017 1) Projected January 1 Cash Balance 304,289 2) Less: Encumbrances Carried Forward From Previous Year - 3) Estimated Cash Balance Available for Plan (Line 1 minus Line 2) 304,289 4) Property Tax Revenue 480,224 5) Estimated Property Tax Cap Credits (show as a negative) (13,373) 6) Auto Excise, CVET and FIT receipts 28,098 7) Other Revenue - TOTAL FUNDS AVAILABLE FOR PLAN(Add lines 3, 4, 5 and 6) 799,238 August 31 hspaxlp
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