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: Administration Building, 686 Wabash Avenue, Terre Haute, IN.
Notice is hereby given to taxpayers of the Vigo County School Corporation that the proper officers of the
Vigo County School Corporation
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 the Vigo County School Corporation may adopt the proposed plan as presented or with revisions.
Public Hearing Date: September 19, 2016 Public Hearing Time: 6:00 p.m. Public Hearing Place: Administration Building, 686 Wabash Avenue, Terre Haute, IN
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 192 16 1,965,245 2018 192 16 2,024,208 2019 192 16 2,084,928 2020 192 16 2,147,472 2021 192 16 2,211,888 2022 192 16 2,278, 240 2023 192 16 2,346,592 2024 192 16 2,416,992 2025 192 16 2,489,504 2026 192 16 2,564,192 2027 192 16 2,641,120 2028 192 16 2,720,352
The proposed plan includes additional school buses or school buses with larger seating capacity as compared with the prior school year. Evidence of a demand for increased transportation services is detailed in the proposed plan. School corporation certifies/affirms that the additional buses it plans to acquire are for the purpose of replacement or having larger seating capacity.
Number of Additional Buses: Cost of Additional Buses:
SOURCES AND ESTIMATES OF REVENUE 2017
1) Projected January 1 Cash Balance 2) Less: Encumbrances Carried Forward from Previous Year 3) Estimated Cash Balance Available for Plan (Line 1 minus Line 2)
4) Property Tax Revenue 2,140,845 5) Estimated Property Tax Cap Credits (show as a negative) (418,600) 6) Auto Excise, CVET and FIT receipts 141,000 7) Other Revenue 102,000 TOTAL FUNDS AVAILABLE FOR PLAN (Add lines 3, 4, 5 and 6) 1,965,245