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Committee forwards authorization for stormwater short‑term financing to full council
Summary
The committee voted to send authorization allowing the Marion County Stormwater Management District to seek short‑term financing (notional ceiling $50 million) to the full council; presenters said initial issuance would be phased, with an anticipated bank selection in February and a hoped‑for interest rate near 3%.
The Public Works Committee voted to forward a proposal authorizing the Marion County Stormwater Management District to pursue short‑term financing to support planning, design and construction of stormwater projects.
The ordinance language presented to the committee references authorizing up to $50 million in revenue bonds or interim notes under Indiana Code IC 36‑3‑5‑8. Joe…
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