Exempt Debt Fund

The Exempt Debt Fund is approximately 5% of the overall Noblesville Schools budget

Due to the state school funding structure it is common in Indiana for schools to issue bonds (loans) for new building construction, facility renovations, equipment, land and buses. In 2010, Noblesville voters approved a capital referendum for building construction. 

This fund is used for

• Principal and interest on debt from the 2010 capital referendum building and construction projects (splitting to NEMS and NWMS, building Promise Road Elementary, adding freshmen center at NHS)  

The following funding sources provide money for the Exempt Debt Fund

• Property tax (rate determined by annual principal and interest payments)
• State excise tax, shared locally
• State financial institutions tax, shared locally 
• State commercial vehicle excise tax, shared locally