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Council creates redevelopment authority and adopts resolution to preserve option to reimburse sewer project costs up to $11 million
Summary
The Sellersburg Town Council approved an ordinance creating a redevelopment authority and adopted Resolution 2025-R-001 declaring official intent to reimburse sewer project expenditures—discussed as potentially financed with redevelopment authority bonds secured by TIF revenues.
The Sellersburg Town Council on April 14 approved an ordinance creating a redevelopment authority (2025-ORD-007) and adopted Resolution 2025-R-001, a declaration of official intent to reimburse up to $11,000,000 of expenditures related to upgrades to the town’s sewage works if the town or its instrumentality issues debt for the project.
Attorney Brian Bozella of Frost Brown Todd told the council the resolution is a precaution that "allows you if you did pursue a sewage project and you did issue bonds, it allows you to spend money on that project now and reimburse yourself out of bond proceeds." He said the…
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