Tale of two bonds

Plans to renovate the Elco Theatre in Elkhart are receiving rave reviews in Indianapolis.

The city needs state permission to float a 10.5 million dollar bond issue to fund the work.

The first step in that process went well. A state panel gave the project a favorable recommendation by a vote of six to nothing.

Meantime, the 18 million dollar bond proposal of the St. Joseph County Public Library received another setback.

The state official who will determine the fate of the library bond wants more time and information — before making a final decision.

In fact, the Commissioner of Indiana’s Department of Local Government Finance is concerned about the tax impact that the bond issue will have.

Cheryl Musgrave has written a letter to South Bend Mayor Stephen Luecke seeking further input.


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