The State of Indiana has effectively ended its role in Midwest fertilizer project financing, and has turned the responsibility over to local officials.
On Tuesday morning, Governor Mike Pence instructed the Indiana Finance Authority to acknowledge its receipt of a "Receipt and Release Certificate related to the Mandatory Redemption of the Indiana Finance Authority Industrial Development Revenue Bonds, Series 2012 (Midwest Fertilizer Corporation Project) on July 1, 2013."
That will effectively end the State of Indiana's participation in the financing of the Midwest Fertilizer project.
Governor Pence's office issued the following statement: "The State of Indiana stands by its decision to withdraw support for the Midwest Fertilizer project since Department of Defense officials still have not been able to independently confirm Fatima Group's promise to replace their current fertilizer in Pakistan with a formula less susceptible to misuse by hostile forces in the region.
Despite a difference of opinion on the matter, Governor Pence respects the prerogative of local officials to continue to explore the possibility of moving forward and has instructed the Indiana Finance Authority not to stand in the way of Posey County officials pursuing the project on their own."
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