NOTICE OF ADOPTION OF PRELIMINARY DETERMINATION Notice is hereby given pursuant to Indiana Code 6-1.1-20-3.1 and 6-1.1-20-5 that the County Council of Clark County, Indiana (County) did, on October 11, 2016, make a preliminary determination to issue bonds to provide for the cost of funding judgments entered against the County, together with all incidental expenses in connection therewith and on account of the issuance of bonds therefor. It is anticipated that the debt service on the proposed bonds will be paid from an ad valorem property tax levied on all taxable property in the County. The bonds will mature over a term ending no later than January 1, 2018 with a maximum principal amount of $9,845,000 and estimated interest rates ranging from 1% to 3% per annum, resulting in total estimated interest costs of $150,000. The maximum interest rate shall not exceed 3% per annum. The current debt service levy and rate of the County is $7,643,159 for the levy and $0.1940 per $100 of assessed value for the rate. The estimated increase to the County's debt service levy and rate, due to the issuance of the bonds, is $2,350,000 for the levy and $0.0600 per $100 of assessed value for the rate. Any owners of real property or registered voters within the County who want to initiate a petition and remonstrance process against the proposed debt service for the bonds to be issued must file a petition that complies with IC 6-1.1-20-3.1 (b)(4) and (5) not later than 30 days after the first publication of this notice. Dated October 15, 2016. R. Monty Snelling, Clark County Auditor hspaxlp
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