TO AUTHORIZE THE ISSUANCE OF BONDS BY THE MONROE COUNTY EDEVELOPMENT COMMISSION PURSUANT TO IC 36-7-14-3.5
This ordinance by the City of Bloomington approves Monroe County Redevelopment Commission’s issuance of bonds payable with Tax Increment Finance (TIF) from Monroe County’s Westside TIF District, a part of which has been annexed by the City. The City’s approval for issuing new bonds is required whenever the City has annexed property within a County TIF district and the tax from that property will be used to repay TIF bonds. (See IC 36-7-14- 3.5).