West Washington board approves lease-financing resolutions for roofing, HVAC and general improvements
May 19, 2026 | West Washington School Corp, School Boards, Indiana
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The West Washington School Board voted May 18 to approve a series of resolutions clearing the way for lease-revenue bond financing to pay for roofing, HVAC and other general school-building improvements.
Board members completed officer elections for the West Washington Community School Building Corporation and then adopted a resolution approving the form of a lease agreement that will allow the building corporation to issue bonds and lease the facilities to the school corporation, which will make the debt-service payments. Dennis Autton, an attorney in the meeting’s public finance counsel, described the arrangement as the district’s standard lease-financing structure and said the additional hearings are required by the financing method. “Because of that, we have these extra hoops hearings,” he said.
The board also approved two separate "1028" resolutions required for the projects: one covering a general improvements project (listed items include paving, solar, a softball press box and school furniture) and a second covering roofing and HVAC work. The motions passed during the meeting without recorded opposition.
A public hearing on the lease-revenue bond and separate 1028 hearings for the projects were opened and, after no public testimony, adjourned prior to the votes. The board indicated the financing was necessary because the total debt exceeded the school corporation’s internal debt-capacity, so the building corporation will issue the debt and the school corporation will be the lease-payor.
The board voted to authorize execution of the lease agreement; the president was asked to sign the approved documents and other signatures were to be collected after the meeting.
The financing proceeds will fund the district’s roofing and HVAC project and a general improvements package; the packet provided to the board included the proposed lease and the related resolution forms. The board scheduled follow-up meetings in the coming month to complete the financing process.
The board adjourned the building corporation portion of the meeting after the adoption and then continued with the school board’s regular agenda.
Board members completed officer elections for the West Washington Community School Building Corporation and then adopted a resolution approving the form of a lease agreement that will allow the building corporation to issue bonds and lease the facilities to the school corporation, which will make the debt-service payments. Dennis Autton, an attorney in the meeting’s public finance counsel, described the arrangement as the district’s standard lease-financing structure and said the additional hearings are required by the financing method. “Because of that, we have these extra hoops hearings,” he said.
The board also approved two separate "1028" resolutions required for the projects: one covering a general improvements project (listed items include paving, solar, a softball press box and school furniture) and a second covering roofing and HVAC work. The motions passed during the meeting without recorded opposition.
A public hearing on the lease-revenue bond and separate 1028 hearings for the projects were opened and, after no public testimony, adjourned prior to the votes. The board indicated the financing was necessary because the total debt exceeded the school corporation’s internal debt-capacity, so the building corporation will issue the debt and the school corporation will be the lease-payor.
The board voted to authorize execution of the lease agreement; the president was asked to sign the approved documents and other signatures were to be collected after the meeting.
The financing proceeds will fund the district’s roofing and HVAC project and a general improvements package; the packet provided to the board included the proposed lease and the related resolution forms. The board scheduled follow-up meetings in the coming month to complete the financing process.
The board adjourned the building corporation portion of the meeting after the adoption and then continued with the school board’s regular agenda.
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