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Board approves bond resolutions for Metropolitan Thoroughfare District, schedules council review
Summary
The Board of Public Works approved Resolution 17 (a $40 million new-money bond list) and Resolution 18 (an authorizing bond resolution and notice of a potential $121 million refunding), and will forward the items to City Council and the Public Works Committee for further action.
The Indianapolis Board of Public Works voted June 10 to approve two bond-related resolutions presented by Joe Glass, executive director of the Indianapolis Bond Bank. Resolution 17 approves a list of capital projects to be funded by a proposed $40,000,000 new-money bond issuance by the Metropolitan Thoroughfare District. Resolution 18 authorizes the bond issuance and notes a possible refunding issuance of up to $121,000,000 that the Bond Bank anticipates could yield about $1,900,000 in savings.
"The first is Resolution 17, which approves a list of capital projects to be funded by a $40,000,000 new money bond issuance by the Metropolitan thoroughfare district," Glass told the board during the public hearing. He said the refunding could achieve savings of about $1,900,000 and that both resolutions will go before the council and that the refunding will be before the Public Works Committee the following day. No members of the public signed up to speak on the items at the board hearing. The board moved and approved each resolution by voice vote; movers, seconds and voice votes were recorded on the public record.
