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Council repeals earlier ordinance and approves revised tourism bond ordinance for central green and Falls of the Ohio projects
Summary
Staff told the council the Indiana Bond Bank requested changes to an earlier tourism-bond ordinance; the council approved ordinance B02 that repeals and replaces B01 and will fund two tourism-related projects, passing the measure unanimously on both readings.
Town staff explained that an earlier ordinance authorizing capital-development fund revenue bonds for tourism projects (ordinance B01) needed revision after the Indiana Bond Bank requested changes. The proposed ordinance B02 would repeal and replace B01 and continue to authorize bond issuance to fund two projects: a central green community and cultural destination and the Falls of the Ohio Education Pavilion project.
Council voted unanimously to approve the revised ordinance on first and second readings. Staff said the revised language accommodates the Bond Bank’s requirements and allows the town to proceed with financing and project planning for the two tourism-related projects.
