Taxpayers of the Jeffersonville Redevelopment District (“District”), the boundaries of which are coterminous with the boundaries of the City of Jeffersonville, Indiana (“City”), are hereby notified that the Jeffersonville Redevelopment Commission (“Commission”) did on February 28, 2024, adopt a resolution determining to issue bonds of the Commission (“Bond Resolution”), acting in the name of the City, in an aggregate principal amount not to exceed Eighteen Million Dollars ($18,000,000), to pay the cost of construction of certain improvements to Charlestown Pike Road, in, serving or benefiting theInner City Road Economic Development Area, incidental expenses incurred in connection therewith and costs associated with the issuance of the bonds, including capitalized interest, if necessary, funding a debt service reserve and premiums for municipal bond insurance and/or a debt service reserve surety, if necessary. The bonds are payable from Tax Increment, on a parity with the Outstanding Obligations (each as defined in the Bond Resolution) and, to the extent Tax Increment is not sufficient, from a special benefits tax levied on all taxable property in the District. The bonds are to bear interest at a rate not to exceed five percent (5.0%) per annum, and will mature semiannually on January 15 and July 15 over a period ending no later than January 15, 2032.
Last modified: March 7, 2024
