INDIANAPOLIS — Mayor Joe Hogsett has signed an ordinance which clears the way for the Indianapolis Department of Public Works (DPW) to invest in additional roads, sidewalks, and bridge projects over the next four years. The bond ordinance passed the City-County Council with unanimous support on Mon., Sept. 10.
With the help of the Indianapolis Bond Bank, the funding authorizes the City of Indianapolis to issue $120 million in revenue bonds over the next four years to finance long-term projects. The bond issuance funding will be used for long-overdue bridge repairs, federally funded thoroughfare projects, and much-needed sidewalk construction. Work will begin on these projects in 2019.
The proposed 2019 City-County budget includes a total investment of $126 million for transportation improvements. The 2019 City budget will go before the City-County Council for a final vote on October 15.