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Redevelopment commission votes to proceed with Burkhart TIF bond refinancing to capture roughly $2.1M in interest savings
Summary
The Vanderburgh County Redevelopment Commission on a voice vote instructed staff and financial advisors to prepare for a refunding of the Burkhart TIF bonds, with documents to be returned to the commission in January.
The Vanderburgh County Redevelopment Commission on a voice vote instructed staff and financial advisors to prepare for a refunding of the Burkhart TIF bonds, with documents to be returned to the commission in January.
Robert Reynolds, CPA, of LWG CPAs and Advisors presented the statutorily required spending-plan template and walked commissioners through debt and capital line items before advising on the refunding. Reynolds and other advisors told the commission the near-term refunding could yield roughly $2.1 million in interest savings and that the bonds carry a debt-service reserve of about $1.6…
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