Details for NOTICE OF ADOPTION OF A DECLARATORY RESOLUTION BY THE WARRICK COUNTY PARK AND RECREATION BOARD AND OF A CONSOLIDATED PUBLIC HEARING ON THE DECLARATORY RESOLUTION, THE PROPOSED BONDS OF THE PARK AND RECREATION DISTRICT AND THE APPROPRIATION OF THE BOND PROCEEDS

NOTICE OF ADOPTION OF A DECLARATORY RESOLUTION BY THE WARRICK COUNTY PARK AND RECREATION BOARD AND OF A CONSOLIDATED PUBLIC HEARING ON THE DECLARATORY RESOLUTION, THE PROPOSED BONDS OF THE PARK AND RECREATION DISTRICT AND THE APPROPRIATION OF THE BOND PROCEEDS

Notice is hereby given that on May 21, 2019, the Warrick County Park and Recreation Board (the “Board”), governing body of the Park and Recreation District of Warrick County, Indiana (the “District”), adopted a declaratory resolution (the “Declaratory Resolution”) determining that it is necessary for the public health and welfare and to be of public utility and benefit to undertake certain works of improvement in the District, including an approximately 16,000 square foot new multi-use event center facility at Friedman Park and other improvements, all as more particularly described in the Declaratory Resolution (collectively, the “Project”). The estimated costs of the Project, including costs of all work to be performed thereunder, and all acquisitions necessary to carry out the Project, and other necessary expenses in connection therewith, is estimated to be approximately $5,000,000. A copy of the Declaratory Resolution and the preliminary plans and estimates are on file and open to public inspection in the office of the Superintendent of the District, located at Scales Lake Park, 800 West Tennyson Road, Boonville, Indiana 47601.

Notice is further given that on May 21, 2019, at 5:15 p.m. (Central time) at the pavilion at Scales Lake Park, 800 West Tennyson Road, Boonville, Indiana 47601, the Board will conduct a public hearing at which it will receive or hear remonstrances from persons interested in or affected by the proceedings related to the

Declaratory Resolution. At the time fixed for the hearing or at any time prior thereto, any person owning real or personal property located within the District or any owner of land injuriously affected under the terms of the Declaratory Resolution may file a written remonstrance with the Board. At such hearing, which may be adjourned from time to time, the Board will hear all persons interested in the proceedings and consider all remonstrances that have been filed. After the public hearing and considering any evidence presented, the Board will then take final action determining the public utility and benefit of the Project by confirming, modifying and

confirming, or rescinding the Declaratory Resolution.

Notice is further given that on May 21, 2019, at 5:15 p.m. (Central time) at the pavilion at Scales Lake Park, 800 West Tennyson Road, Boonville, Indiana 47601, the Board will also conduct a public hearing (i) on the proposed issuance of special taxing district bonds of the District, in an aggregate original principal amount not to exceed $2,500,000 (the “Bonds”), for the purpose of financing a portion of the costs of the Project and other necessary expenses in connection therewith, including the issuance of the Bonds, and (ii) on the matter of appropriating the proceeds of the Bonds together with interest earnings thereon. The proposed Bonds will have a final maturity date no later than twenty (20) years following the date of issuance thereof, and will bear interest at a rate or rates not exceeding (i) five percent (5.00%) per annum, if the interest on the Bonds is excludable from gross income for federal income tax purposes, or (ii) six percent (6.00%) per annum, if the interest on the Bonds is not excludable from gross income for federal income tax purposes. The exact rate or rates of interest on the Bonds will be determined by bidding. Said appropriation is in addition to all appropriations provided for in the existing budget and tax levy, and funds to cover said appropriation are to be provided from the proceeds of the Bonds and interest earnings thereon. At said public hearing, which may be adjourned from time to time, all persons shall have the right to appear and be heard by the Board on the necessity of the Project, the Bonds and said appropriation.

Dated this 9th day of May, 2019.

WARRICK COUNTY PARK AND

RECREATION BOARD

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