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Indianapolis’ Jail Project Moving Closer to Reality Second Time Around

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Dallas, TX | August 1, 2017
Nora Colomer, The Bond Buyer

Marion County and Indianapolis took a first step toward getting a long-anticipated criminal justice facility off the ground with the approval of an initial $20 million in financing.

The City-County Council of Marion County and Indianapolis approved the bond anticipation note issue in a 17 to 7 vote on July 24, providing a strong indicator on how it might vote next year on the 35-year, lease appropriation bonds that will take out the note and cover the entire $571 million of project costs. The Indianapolis Bond Bank will serve as conduit issuer for the debt on behalf of the consolidated council.