From the Indianapolis Business Journal, the Indiana Economic Development Corp. plans to ask the state for $50 million to support bonds to finance a new pipeline that would send 25 million gallons of water to its LEAP Lebanon Innovation District and other Boone County developments, supporting the Eli Lilly and Co. manufacturing complex expansion, additional park tenants and new development in the city.
If approved, the money would be transferred from the Deal Closing Fund to the Indiana Finance Authority to secure bond financing, according to a State Budget Committee agenda.
The budget committee is expected to decide on the request Thursday morning.
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