Schools Want an Appeal Bond
PLYMOUTH � An appeal bond may be the Plymouth School Corporation�s only chance to sell bonds for its $26.4 million expansion project this year.
Plymouth School Board attorney Joe Morris was expected to file the motion late Monday requesting the Marshall County Tax Awareness Committee post an appeal bond while the wait continues for a decision on TAC�s appeal of the first ordered bond.
�The appeal bond will be in addition to the existing bond Tax Awareness has been ordered to pay,� Morris said. �If a bond is ordered and they cannot post it, the suit will be dismissed. That could be our ray of hope to still sell bonds this year.�
The Indiana School Property Tax Control Board voted 2-2 Thursday on a motion to allow the school to sell bonds for the expansion project. A tie vote means the Tax Control Commissioner could still rule on the request this year, but the odds are slim.
The Tax Control Commissioner has 90 days to make a decision and another 90 days is an extension is needed. It is unlikely state officials will rule either way until the court matter is cleared up.
TAC was ordered by Marshall Circuit Court Special Judge Duane Huffer to post a $1 million lawsuit after Huffer granted the school corporation�s request to declare the lawsuit a public lawsuit.
TAC does not have the $1 million. Instead TAC instructed their attorney, John Price, to file an appeal to the decision.
Due to the board�s decision � or lack of it Friday� the school�s inability to sell the bonds will cost the Plymouth School Corporation between $800,000 and $1. 3 million.
Morris said TAC should have to cover that cost should they lose the lawsuit.
If the Appellate or Indiana Supreme Court grants the request and orders TAC to put down an appeal bond and TAC does not have the money the appeal and the lawsuit will be dismissed.
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