Council approves three Hyde Park bond ordinances authorizing taxable development debt

The Noblesville Common Council on Nov. 18 unanimously approved three ordinances authorizing taxable economic-development bonds for separate Hyde Park projects.

Amy Smith, presenting on behalf of city financial staff, told the council there had been no changes to the ordinances since they were introduced at earlier meetings and asked for their approval. Councilmember Davis moved to approve each ordinance; roll-call votes on ordinances 41-11-25, 42-11-25 and 43-11-25 were recorded as 8–0 in favor and the mayor's office confirmed the ordinances were approved.

Ordinance 41-11-25 authorizes taxable economic development revenue bonds for the Link at Hyde Park (Edward Rose Projects). Ordinance 42-11-25 authorizes a taxable economic development revenue bond for Avenza at Hyde Park (the Trinitas project). Ordinance 43-11-25 authorizes a taxable economic development bond for the Village at Hyde Park (Empire Project). Smith said there were no substantive changes to the forms of the bond ordinances since their prior presentation.

The council took the votes during the meeting's roll-call sequence; each vote was recorded by the clerk and announced by the president as unanimous. No amendments or dissenting remarks were offered on the floor during the recorded discussion.

What happens next: The ordinances, now approved, authorize staff to proceed with bond issuance processes and any related administrative steps spelled out in each ordinance. Specific issuance timing or bond terms were not described in detail during the meeting and were listed as not specified in the presentation.