Mission

The legislative branch of the city is the common council. The council shall have the exclusive authority to adopt ordinances and appropriate tax moneys received by the city, and to perform other necessary and desirable legislative functions.
 

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Notice of Public Hearing

Section 1. NOTICE TO TAXPAYERS REGARDING PRELIMINARY DETERMINATION TO ISSUE BONDS OF THE CITY OF COLUMBUS, INDIANA

The taxpayers of the City of Columbus, Indiana (the “City”), are hereby notified that on January 20, 2009, the Common Council of the City (the “Council”), did adopt a resolution preliminarily determining to issue general obligation bonds of the City, in an original aggregate principal amount not to exceed $9,000,000 (the “Bonds”), for the purposes of procuring funds to pay for the costs of the following project in the City: the construction of a portion of the new Commons Mall to be located in downtown Columbus, Indiana, in an area generally bounded by Washington Street on the east, Fourth Street on the north, Third Street on the south, and roughly the mid-point between Washington Street and the newly created Jackson Street (running north-south between Third Street and Fourth Street) on the west.

The proposed Bonds will have a maximum term of twenty (20) years and, with estimated interest rates of 3.95%-7.25% per annum, total interest costs of $7,390,675 over the term of the Bonds. The City’s current debt service levy is $1,127,932 and its current debt service rate is $0.0414 per $100 of assessed valuation. If the City issues the Bonds, the estimated increase to the City’s debt service levy will be $841,592 and the estimated increase to the City’s debt service rate will be $0.0299 per $100 of assessed valuation. The Bonds shall be payable from ad valorem property taxes on all taxable property within the City.

Any owners of real property within the City or registered voters residing within the City who want to initiate a petition and remonstrance process against the proposed debt service payments for the bonds Bonds must file a petition that complies with Indiana Code §6-1.1-20-3.1(4) and Indiana Code §6-1.1-20-3.1(5) not later than thirty (30) days after the date of the publication of this notice.

Dated this 21st day of January, 2009.

COMMON COUNCIL OF THE CITY OF COLUMBUS, INDIANA