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Fishers City RDA approves up to $65 million in bonds to finance community center
Summary
The Fishers City Redevelopment Authority approved parameters for up to $65 million in lease-rental revenue bonds to fund acquisition of a community center at 120 First Street and Hoosier Road; the Redevelopment Commission will consider parallel approvals later the same day.
FISHERS CITY — The Fishers City Redevelopment Authority on June 9 approved a resolution setting parameters for lease-rental revenue bonds not to exceed $65,000,000, with a maximum interest rate of 6 percent and a 20-year term, to finance acquisition of a community center at 120 First Street and Hoosier Road, authority staff said.
The measure authorizes the authority to accept the form of a lease agreement and a trust indenture that will govern the financing and bond repayment through lease rentals under that lease. "This is a resolution which approves the terms of a financing, which the city is in in the process of going…
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