NOTICE OF PUBLIC HEARING CONCERNING APPROPRIATION OF PROCEEDS OF THE TOWN OF PORTER, INDIANA GENERAL OBLIGATION BONDS
The residents and taxpayers of the Town of Porter, Indiana (the “Town”), are hereby notified that the Town Council of the Town (the “Town Council”), will consider at its meeting on May 26, 2026, issuing general obligation bonds of the Town, in one or more series or issues, in an original aggregate principal amount not to exceed One Million Six Hundred Fifty Thousand Dollars ($1,650,000) (the “2026 Bonds”) for the purpose of financing the costs of all or any portion of (i) the acquisition and equipping of firefighting equipment consisting of a ladder truck and related equipment for use by the Town, and (ii) miscellaneous projects or costs relating to the foregoing and other capital improvement or equipping projects at facilities owned or operated by the Town (clauses (i) and (ii), collectively, the “Project”), and paying related expenses, including the costs of issuing the 2026 Bonds.
Fund Number: 4650
Fund Name: 2026 GO Bond
Appropriation Amount: $1,650,000
The 2026 Bonds (a) will have a final maturity not later than twenty (20) years from the date of issuance of the 2026 Bonds and (b) will bear interest at a rate or rates to be determined as permitted by applicable Indiana law.
Taxpayers and residents of the Town are further notified that the Town Council will hold a public hearing at 7:00 p.m., local time, on May 26, 2026, in the Porter Town Hall, located at 303 Franklin Street, Porter, Indiana, on the matter of appropriating the proceeds of the 2026 Bonds in the original aggregate principal amount of not to exceed $1,650,000, together with all interest earnings thereon. Said appropriation is in addition to all appropriations provided for in the existing budget and tax levy of the Town. Funds to cover said appropriation are to be provided from the proceeds of the 2026 Bonds.
At said public hearing, all persons shall have the right to appear and be heard on the necessity of said appropriation.
Dated this 12th day of May, 2026.
TOWN OF PORTER, INDIANA
NOTICE TO TAXPAYERS REGARDING DECISION TO ISSUE GENERAL OBLIGATION BONDS OF THE TOWN OF PORTER, INDIANA
The taxpayers of the Town of Porter, Indiana (the “Town”), are hereby given notice that on May 12, 2026, the Town Council of the Town did adopt an ordinance making a decision to issue general obligation bonds of the Town in an original aggregate principal amount of not to exceed One Million Six Hundred Fifty Thousand Dollars ($1,650,000) (the “Bonds”). The proceeds of the Bonds will be used to finance the cost of all or any portion of the following capital projects consisting of (i) the acquisition and equipping of firefighting equipment consisting of a ladder truck and related equipment for use by the Town, and (ii) miscellaneous projects or costs relating to the foregoing and other capital improvement or equipping projects at facilities owned or operated by the Town (clauses (i) and (ii), collectively, the “Project”), together with the costs of issuance of the Bonds.
The proposed Bonds will have a final maturity no later than twenty (20) years from the date of issuance of the Bonds, and will bear interest at a rate or rates not exceeding six percent (6.00%) per annum, the exact rate or rates to be determined as permitted by applicable Indiana law. The Bonds will be payable from ad valorem property taxes levied and collected on all taxable property within the Town.
Dated this 15th day of May, 2026.
CLERK-TREASURER
TOWN OF PORTER, INDIANA
