Scott County Council approves first readings to pursue judgment-funding bonds to cover settlement

SCOTTSBURG, Ind. — The Scott County Council on Aug. 29 held first readings and took initial votes to begin the process of issuing judgment-funding bonds and appropriating the proceeds to pay a court-ordered settlement and related costs.

The council read the titles of two ordinances — an ordinance authorizing issuance and sale of judgment-funding bonds (2025 OR-48) and an ordinance approving an additional appropriation in connection with issuance of those bonds (2025 OR-49) — and took initial votes to advance both measures to the council’s regular meeting on Sept. 9, when two public hearings and second readings are scheduled.

Bo Zeller, staff member, told the council the filing and public-notice steps have begun and that the meeting’s action constituted the statutorily required first reading. "This bond ordinance is for judgment funding bonds," Zeller said, describing the Indiana statute that allows counties to issue bonds to fund court judgments. Zeller said notices were submitted for publication and public hearings would occur before the council’s Sept. 9 meeting.

Jason Stemler, a consultant working with bond advisers and the county, presented illustrative underwriting numbers and repayment scenarios. Stemler said the ordinance includes a not-to-exceed bond size of $6,000,000 but the advisers’ current illustrative financing would…