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Gary council authorizes up to $13 million in bonds to pay judgments, approves bonding terms
Gary Common Council · February 4, 2026
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Summary
Council approved an ordinance authorizing issuance of up to $13,000,000 in judgment bonds to settle litigation and judgments, permitting maturities up to 15 years and interest not to exceed 6% semiannually; vote was unanimous (8–0).
The Gary Common Council voted 8–0 on Feb. 3 to authorize the issuance of judgment bonds of up to $13,000,000 to fund certain judgments and settlements against the city.
City finance staff said the bonds would be used to address two large pieces of litigation, including a federal wrongful-imprisonment case, and…
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