Notice of Decision to Issue Bonds of Floyd County
The taxpayers of Floyd County, Indiana (the “County”), are hereby notified that on July 11, 2018, the Floyd County Council (the “Council”), did adopt an ordinance (the “Ordinance”) making a decision to issue general obligation bonds of the County, in an original aggregate principal amount not to exceed $16,500,000 (the “Bonds”), for the purposes of financing the construction, renovation, improvement, and/or equipping of certain projects at the existing County jail facility, located at 311 Hauss Square, New Albany, Indiana, and any related improvements, all to be used for the purposes of providing incarceration, community corrections or other law enforcement or criminal justice services by the County. Pending the issuance of the Bonds, the Ordinance also authorizes the issuance of one or more bond anticipation notes of the County in an aggregate principal amount not to exceed $15,000,000.
The Bonds are payable solely from (a) the Endowment Revenues (as defined in the Ordinance), and (b) to the extent that the Endowment Revenues are insufficient for such purpose, the revenues derived from an ad valorem tax to be levied by the County on all taxable property within the County.
This notice is being published and posted in accordance with the provisions of Indiana Code § 6‑1.1‑20‑5.