Faith Ministries Responds to Objection to Bond Issue for Faith West

There has been some good conversation in the public square regarding Faith West and the type of financing that is being pursued to build it. Tax exempt bond financing is a mechanism that is not used very frequently in our town, but is used all over the country for projects similar to–and much larger than–ours.

Some facts regarding tax exempt bonds:

• They are open to all 501(c)3 organizations.
• They do not affect the credit rating of West Lafayette or any other city.
• The City of West Lafayette is in no way responsible for repayment of the money; Faith Church is.
• The city simply serves as a conduit for approval of these bonds; nothing more.

http://blogs.faithlafayette.org/church/should-faith-west-be-funded-with-tax-exempt-bonds/

An earlier entry on this issue:

http://indianapropertytaxreporter.blogspot.com/2012/05/freedom-from-religion-foundation.html