Adrian Martinez-De La Cruz
CROWN POINT -- The Crown Point Community School Corp. is proposing taking out $5 million bond in order to purchase school buses and other district transportation vehicles.
A preliminary hearing on the project was held during Monday's School Board of Trustees meeting.
According to Crown Point schools' chief financial officer Matt Ruess, the bond amount will be $5 million and would be repaid in six months, by June of next year.
The interest on the bond is estimated to be around $150,000, however Ruess told board members the district expected the actual interest amount to be significantly lower.
The CFO noted due to rising assessed property values in the district, they anticipated the tax rate on the school corporation's debt service fund to decrease even with the proposed bond.
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He also noted some of district's existing debt will be falling off in the next few years.
Crown Point schools' issued a similar $5 million bond in 2022 to fund improvements at Winfield Elementary School, which was also repaid in six months.
A second public hearing will take place at 4 p.m. on Sept. 19 at the district's administrative building, 1050 S. Main St., with a vote taking place immediately following the public hearing.
The school board also accepted multiple grant awards during Monday's meeting, including nearly $10,360 for the district's alternative school; two grants from Lake County Retired Teachers Association totaling $830 and over $63,000 from the state's Secured School Safety Grant program, which will be used to pay for school resource officers.
Board members also approved an out-of-country trip to Spain for Crown Point High School students set for the summer of 2026.
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Lake Central's Tye Adams chases the ball Wednesday as Lake Central boys soccer has a DAC matchup at Crown Point.
John J. Watkins
Lake Central's Tye Adams kicks to a teammate Wednesday as Lake Central boys soccer has a DAC matchup at Crown Point.
John J. Watkins
Lake Central's Tye Adams chases the ball Wednesday as Lake Central boys soccer has a DAC matchup at Crown Point.
John J. Watkins
Crown Point goal keeper Oliver Brewer makes a save on a penalty kick Wednesday as Lake Central boys soccer has a DAC matchup at Crown Point.
John J. Watkins
Crown Point's Braydyn Kurtz controls the ball Wednesday as Lake Central boys soccer has a DAC matchup at Crown Point.
John J. Watkins
Lake Central's George Karabatsos kicks the ball away Wednesday as Lake Central boys soccer has a DAC matchup at Crown Point.
John J. Watkins
Lake Central's David Dorneanu dribbles Wednesday as Lake Central boys soccer has a DAC matchup at Crown Point.
John J. Watkins
Crown Point goal keeper Oliver Brewer makes a save on a penalty kick Wednesday as the Lake Central boys soccer team won 1-0 in a DAC matchup at Crown Point.
John J. Watkins, The Times
The Crown Point team celebrates a goal by Landyn Hoyhtya Wednesday as Lake Central boys soccer has a DAC matchup at Crown Point.
John J. Watkins
Lake Central's David Dorneanu kicks the ball Wednesday as Lake Central boys soccer has a DAC matchup at Crown Point.
John J. Watkins
Lake Central's Tye Adams kicks to a teammate Wednesday as Lake Central boys soccer has a DAC matchup at Crown Point.
John J. Watkins
Crown Point's Landyn Hoyhtya kicks the ball away Wednesday as the Lake Central boys soccer team won 1-0 in a DAC matchup at Crown Point.
John J. Watkins, The Times Lake Central vs. Crown Point boys soccer
Lake Central lost 1-0 on the road against Crown Point Wednesday evening.
Lake Central's Tye Adams chases the ball Wednesday as Lake Central boys soccer has a DAC matchup at Crown Point.
John J. Watkins
Lake Central's Tye Adams kicks to a teammate Wednesday as Lake Central boys soccer has a DAC matchup at Crown Point.
John J. Watkins
Lake Central's Tye Adams chases the ball Wednesday as Lake Central boys soccer has a DAC matchup at Crown Point.
John J. Watkins
Crown Point goal keeper Oliver Brewer makes a save on a penalty kick Wednesday as Lake Central boys soccer has a DAC matchup at Crown Point.
John J. Watkins
Crown Point's Braydyn Kurtz controls the ball Wednesday as Lake Central boys soccer has a DAC matchup at Crown Point.
John J. Watkins
Lake Central's George Karabatsos kicks the ball away Wednesday as Lake Central boys soccer has a DAC matchup at Crown Point.
John J. Watkins
Lake Central's David Dorneanu dribbles Wednesday as Lake Central boys soccer has a DAC matchup at Crown Point.
John J. Watkins
Crown Point goal keeper Oliver Brewer makes a save on a penalty kick Wednesday as the Lake Central boys soccer team won 1-0 in a DAC matchup at Crown Point.
John J. Watkins, The Times
The Crown Point team celebrates a goal by Landyn Hoyhtya Wednesday as Lake Central boys soccer has a DAC matchup at Crown Point.
John J. Watkins
Lake Central's David Dorneanu kicks the ball Wednesday as Lake Central boys soccer has a DAC matchup at Crown Point.
John J. Watkins
Lake Central's Tye Adams kicks to a teammate Wednesday as Lake Central boys soccer has a DAC matchup at Crown Point.
John J. Watkins
Crown Point's Landyn Hoyhtya kicks the ball away Wednesday as the Lake Central boys soccer team won 1-0 in a DAC matchup at Crown Point.
John J. Watkins, The Times Love 0 Funny 0 Wow 0 Sad 0 Angry 0 * I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy. Adrian Martinez-De La Cruz
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