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Noblesville council previews $50M police headquarters financing and approves related lease resolution
Summary
Deputy Mayor Matt Light described a guaranteed maximum price of $50,150,000 for the planned police headquarters and said the city anticipates debt not to exceed $53,000,000; the council approved Resolution RC-28-26 (the lease) following a public hearing.
Deputy Mayor Matt Light told the Common Council the city is advancing plans for a new police headquarters and previewed the financing approach on July 14. “We have a guaranteed maximum price agreement with our construction team for $50,150,000,” Light said, and city staff are tracking numbers for a bond that would not exceed $53,000,000.
Light described the ordinance before council as a pledge of general revenue to lease rental bonds that will form part of the eventual bond issuance. He said the city plans to use a combination of local income taxes, food and beverage taxes and interest income from investments to pay debt service, and added that a property‑tax backup is included to strengthen credit. “So no changes to tax rates with this,” he told council.
The council opened and closed a public hearing on Resolution RC-28-26 (the lease agreement between the Noblesville Building Corporation and the city for the police facility), recorded no public speakers, and a motion to approve the resolution passed during the meeting. Light said the project remains within existing capital project capacities and that additional financial approvals — including the bond authorization and an appropriation of cash reserves to reduce borrowing — will come in future meetings.
Resolution RC-28-26 was approved by the council as presented; the transcript records the motion, second and a hand vote but does not record a numeric tally.
