School Corporation Plans Fourth Lease Amendment Financing
North Gibson School CorporationSchool · Princeton, IN- Disclosed value
- Maximum original aggregate principal amount of bonds not to exceed $40,000,000 (less any general obligation bonds issued by the School Corporation)
- From public notice
- Document date
- Jun 20, 2025
The 30-second brief
North Gibson School Corporation plans to enter into a Fourth Amendment to its lease with the North Gibson Multi-School Building Corporation to finance the 2025-2027 Campus-Wide Facility Improvement and Equipping Project. The Building Corporation will issue up to an estimated $40 million in first mortgage bonds, with lease rental payments extending up to 25 years from recording.
North Gibson Multi-school Building Corporation holds this facilities contract with North Gibson School Corporation.
Term as filed: Fourth Amendment to Lease: additional lease rental term not to exceed 25 years from recording; related first mortgage bonds term not to exceed 20 years from date of issue.
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Contract details
- Contract type
- Facilities
- Amount
- Maximum original aggregate principal amount of bonds not to exceed $40,000,000 (less any general obligation bonds issued by the School Corporation)
- Document date
- June 20, 2025
- Term
- Fourth Amendment to Lease: additional lease rental term not to exceed 25 years from recording; related first mortgage bonds term not to exceed 20 years from date of issue
- Vendor
- North Gibson Multi-school Building Corporation
- Source document
- north-gibson-school-corporation-public-notice-2025-06-20_5dc.pdf (Public Notice)
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Questions about this contract
Who was awarded the facilities contract by North Gibson School Corporation?
North Gibson Multi-school Building Corporation was awarded this facilities contract by North Gibson School Corporation, as recorded on June 20, 2025. The contract value is Maximum original aggregate principal amount of bonds not to exceed $40,000,000 (less any general obligation bonds issued by the School Corporation).
How much is the North Gibson Multi-school Building Corporation contract with North Gibson School Corporation worth?
The North Gibson Multi-school Building Corporation contract with North Gibson School Corporation is valued at Maximum original aggregate principal amount of bonds not to exceed $40,000,000 (less any general obligation bonds issued by the School Corporation), covering facilities work.
What type of contract is this?
This is a Facilities contract, documented as a public notice record, structured as a not-to-exceed (ceiling) agreement.
Where was this contract approved?
This contract appears in north-gibson-school-corporation-public-notice-2025-06-20_5dc.pdf (Public Notice), dated June 20, 2025 from North Gibson School Corporation. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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