Noblesville council approves taxable economic development bonds for Granary project
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Summary
The City of Noblesville approved Ordinance No. 34-09-25 to issue taxable economic development revenue bonds for the Granary project and lend proceeds to Flattery and Collins LLC; the measure passed by roll-call vote 5–0.
The Noblesville City Council on Oct. 21 approved Ordinance No. 34-09-25 authorizing the issuance of City of Noblesville taxable economic development revenue bonds, series 2025, for the Granary project and the lending of proceeds to Flattery and Collins LLC.
Ms. Smith, speaking on behalf of Chuck Haberman, said the ordinance had been presented at the Sept. 23 meeting and that “there have been no changes to the ordinance since that presentation. I'm happy to answer any questions, but would ask for your approval.” The council then moved to approve the ordinance.
The ordinance was adopted by roll-call vote: Davis — Aye; Elliott — Aye; Johnson — Aye; Peterson — Aye; Wiles — Aye (5 ayes, 0 nays). The presiding officer announced the ordinance was approved.
The ordinance authorizes the issuance of taxable economic development revenue bonds to finance the Granary project and contemplates lending bond proceeds to a private entity identified in the ordinance as Flattery and Collins LLC. The council did not state additional terms of the bonds (rate, principal amount or repayment schedule) during the meeting.
The measure received no further substantive public comment at the meeting. The council moved on to other agenda items after the vote.
