TO APPROVE REFUNDING BONDS OF THE CITY OF BLOOMINGTON REDEVELOPMENT DISTRICT TO REFUND 2011 BONDS
In 2011, the Bloomington Redevelopment Commission issued Bonds to purchase property from Indiana University in what would become The Trades District. As a result of current interest rates, the Redevelopment Commission has an opportunity to refund its 2011 Bonds, which will have the result of reducing the total cost of repayment for the 2011 Bonds. Under State Law, this refunding must be approved by the Council.