Brownstown Comm. Schools

Notice To Bidders

Notice is hereby given that sealed bids will be received by the Board of School Trustees of Brownstown Central Community School Corporation, in the Corporation's Administrative Office, 608 West Commerce Street, Brownstown, Indiana, until the hour of 1:00 p.m., May 5, 2008, for a temporary line of credit loan up to $1,621,000 for the calendar year 2008. Such temporary line of credit loan is to the Brownstown Central Community School Corporation for the benefit of the Capital Projects and Transportation Operating Funds. The need for such temporary line of credit loan was determined by said Board at the April 7, 2008, School Board Meeting.

Bid for said loan shall be submitted in sealed envelopes marked "Bid for Temporary Line of Credit Loan." Bids for said loan shall be opened immediately and accepted upon determination of the lowest bids.

The loan contract shall be awarded to the bidder offering to lend money at the lowest rate of interest. Said loan shall bear interest at a rate of not more than 8 percent per annum. Interest shall be payable with principal as anticipated tax funds are received by the Brownstown Central Community School Corporation and shall be evidenced by a temporary line of credit loan note payable to the bearer aggregating in principal and interest the sum borrowed.

The Board desires the option of borrowing with multiple advances, as needed and the interest shall apply to only the principal balance on a daily basis. The full amount of said note consummated shall be due and payable on or before December 31, 2008.

Said loan is to be made in accordance with authority to do so granted by IC 20-48-1-9 and to be repaid from taxes levied in 2007 and to be collected for Brownstown Central Community School Corporation in calendar year 2008.

The Board reserves the right to reject any and all bids.

Board of School Trustees

Brownstown Central Community

School Corporation

Kenneth Wolff, Secretary

Dated: April 7, 2008

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