Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Municipal Corporations Committee forwards HHC refunding proposal to full council
Summary
The committee voted to send Proposal 2‑13, authorizing up to $150 million in refunding bonds for debt tied to Eskenazi Hospital, to the full council with a "do pass" recommendation; the plan aims to reduce subsidy uncertainty from federal Build America Bonds and free cash held as a debt service reserve.
The Municipal Corporations Committee voted to forward Proposal 2‑13 from the Health and Hospital Corporation of Marion County to the full City-County Council with a "do pass" recommendation, advancing authorization for up to $150 million in general obligation refunding bonds to refinance debt related to Eskenazi Hospital.
The measure, presented by Joe Glass, executive director and general counsel of the Indianapolis Bond Bank, would refund certain 2010 bonds and related lease rental bonds and keep the final maturity date at January 2040. "We are here, to present proposal 2 13, which authorizes, refunding bonds, an amount not to exceed 150,000,000 for the series, 20 10 a 2, health and hospital bonds," Glass said.
The committee heard that the 2010 A2 and B2 bonds were issued as Build America Bonds (part of the American…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
