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Indy City Commission Authorizes Bonds

 

The Independence City Commission has authorized the issuance of $1.2 million in Taxable Industrial Revenue Bonds Series 2019 to Textron Aviation Inc. The bonds are intended to be used for facility and equipment upgrades. As part of the deal, the city is under no obligation for any of the bonds, which were requested by Textron Aviation. The improvements will be approved for a ten-year ad valorem property tax abatement, beginning January 1st of next year and running through 2030.

 

The decision made by the commission authorizes the mayor and city clerk to execute and deliver all documents related to the issuance of the bonds.

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