Council preliminarily authorizes up to $12.5M in bonds for North District police station

Chairman Muscari presented Proposal 2-46, which makes a preliminary determination to authorize the sale of general-obligation bonds with aggregated principal amounts not to exceed $12,500,000 and a maximum interest rate of 6.5 percent to fund the new North District police station and associated improvements.

Councilor Gibson, whose district includes the facility, expressed support: "Happy to have, IMPD North in my district currently and looking forward to them to continue in the new headquarters at 38th And Sherman." Other councilors raised questions about debt levels and bond practices, echoing earlier bond concerns; staff said the proposal passed out of committee 9–0 and answered procedural questions. The full council carried the proposal 24–0.

The preliminary determination allows the administration and finance staff to continue with sale preparations in line with statutory and municipal bond procedures.