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Council approves bond appropriations and BOT agreement for DPW campus, Westside Fire Station
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Summary
The council appropriated previously authorized bond proceeds for the DPW campus and the Westside Fire Station, and approved a BOT agreement with GM Development for Fire Station 295 with a guaranteed maximum price of $7,996,767; financing closings were anticipated in the coming weeks.
The Town of Zionsville on April 26 approved several financing actions to advance capital projects including the DPW operations campus and a new Westside fire station.
Barnes & Thornburg counsel told the council the previously authorized general obligation bond for the DPW campus (not to exceed $14,745,000) needs a formal appropriation of proceeds into a local project fund; Resolution 2026-10 completed that step and was approved unanimously. Counsel said the town expects to return next month with the BOT agreement for the DPW operations facility and hopes to close financing in June.
On the Westside Fire Station, the council approved Resolution 2026-11 to appropriate bond proceeds for a bond ordinance authorizing up to $8,650,000. Counsel then presented the public-private build-operate-transfer (BOT) agreement with GM Development for Fire Station 295 and noted the guaranteed maximum price (GMP) of $7,996,767, which includes a $312,000 contingency (about 4% of the project cost). The agreement provides for developer construction, town payment via an installment purchase agreement, and a bill of sale to transfer the completed facility to the town at closing.
Council discussion covered timing and the mechanics of the financing. Counsel said the town expects to close the financing and the BOT transaction in the next 30 to 45 days and would return with final contract documents as required. Both bond appropriations and the BOT agreement were approved by unanimous votes.
