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[GOV]STATE ENDS ROLE IN MIDWEST FERTILIZER PROJECT FINANCING, TURNS OVER TO LOCAL OFFICIALS
Start Date: 6/18/2013Start Time: 12:00 AM
End Date: 6/18/2013End Time: 11:59 PM
Entry Description

Indianapolis, IN - Governor Mike Pence has instructed the Indiana Finance Authority to acknowledge its receipt of a Receipt and Release Certificate related to the Mandatory Redemption of the Indiana Finance Authority Industrial Development Revenue Bonds, Series 2012 (Midwest Fertilizer Corporation Project) on July 1, 2013.

 

The proceeds of the issuance by Posey County, Indiana, of its Economic Development Refunding Revenue Bonds, Series 2013A will refund the IFA's Bonds and effectively end the State of Indiana's participation in the financing of the Midwest Fertilizer project. 

 

Governor Pence's office issued the following statement, attributable to Communications Director Christy Denault:

 

"The State of Indiana stands by its decision to withdraw support for the Midwest Fertilizer project since Department of Defense officials still have not been able to independently confirm Fatima Group's promise to replace their current fertilizer in Pakistan with a formula less susceptible to misuse by hostile forces in the region.

 

Despite a difference of opinion on the matter, Governor Pence respects the prerogative of local officials to continue to explore the possibility of moving forward and has instructed the Indiana Finance Authority not to stand in the way of Posey County officials pursuing the project on their own." 

Location Information:
Posey County
Contact Information:
Name: Kara Brooks
Phone: 317-232-1622
Email: kbrooks@gov.in.gov
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Entry Type:
Press Release
Entry Category:
  • Announcements
  • IN.gov Category:
  • About Indiana
  • Agency Name
    Governor

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