Legal Notices

Last Updated: 8/18/2025

Notice of Special Meeting

The Board of Trustees for the Morrisson-Reeves Library will hold a special meeting on Wednesday, August 20, 2025, at 6:00 p.m.

The meeting will take place at the library, located at 401 East Main Street, Richmond, Indiana.

NOTICE OF ADOPTION OF PRELIMINARY DETERMINATION
Notice is hereby given pursuant to Indiana Code § 61.1203.1 that the Board of Trustees (the “Board”) of Morrisson-Reeves Library (the “Library”) did, on June 17, 2025, make a preliminary determination to issue bonds and enter into a lease agreement (the “Lease”) for the renovation of and improvements to the Morrisson-Reeves Library, including site improvements and the purchase of equipment and technology. The Lease will be for a maximum term of twenty-five (25) years with a maximum annual Lease rental of $1,724,000. The maximum annual Lease rental has been estimated based upon an estimated principal amount of bonds of $18,720,000 and estimated interest rates of 6.00% and total interest costs of $13,854,000.

As required by Indiana Code 6-1.1-20-3.1(b)(1), the following information was available to the public at the public hearing on the preliminary determination: (i) the Library’s current and projected annual debt service payments divided by the net assessed value of taxable property within the library district, which is 0.10%; and (ii) the sum of the Library’s outstanding long term debt plus the outstanding long term debt of other taxing units that include any other territory of the library district divided by the net assessed value of taxable property within the Library district, which is 7.96%.

The Library’s current debt service fund tax levy is $0.0000 and the current debt service fund tax rate is $0.0000. After the Library enters into the proposed Lease for the Project and the bonds are issued, the debt service fund tax levy will increase by a maximum of $1,724,000 and the gross debt service fund tax rate will increase by a maximum rate of $0.1024. The purpose of the Lease is to provide for the Project.
The estimated amount of the Library’s debt service levy and rate that will result during
the following 10 years if the Library enters into the Lease and issues the bonds, after considering any changes that will occur to the debt service levy and rate during that period on account of any outstanding bonds or lease obligations that will mature or terminate during that period, is as follows:

The Project involves the opening of new facility space; however, the new facility space will be more efficient than the current facility space. Therefore, the Library does not expect to incur an increase in costs to operate such new facility space.

Year
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036

Any owners of real property within the Library district or registered voters residing within the Library district who want to initiate a petition and remonstrance process against the proposed lease payments must file a petition that complies with IC 61.1203.1 subdivisions (4) and (5) not later than 30 days after the first publication of this notice.

Dated June 19, 2025.
/s/ Secretary, Board of Trustees                                
Morrisson-Reeves Library

NOTICE OF HEARINGS

Pursuant to Indiana Code § 6-1.1-20-3.1, notice is hereby given that the Board of Trustees (the “Board”) of the Morrisson-Reeves Library will meet at 4:30 p.m. on June 10, 2025 and at 4:30 p.m. on June 17, 2025, at the Morrisson-Reeves Library, 80 North 6th Street, Richmond, Indiana, to hold public hearings.  On June 10, 2025, the Board will hold a public hearing to discuss and hear objections and support regarding the renovation of and improvements to the Morrisson-Reeves Library, including site improvements and the purchase of equipment and technology (the “Project”).  On June 17, 2025, the Board will hold a second public hearing to discuss and hear objections and support regarding the proposed Project and will also consider the adoption of a resolution making a preliminary determination to issue bonds to finance the Project.  You are invited to attend and participate in the public hearings.

Dated May 30, 2025.

/s/ Secretary, Board of Trustees                                
Morrisson-Reeves Library