...S&P Global Ratings assigned its '##+' rating to Brownsburg Redevelopment Authority, Ind.'s series 2017 taxable lease rental revenue bonds, issued for Brownsburg Town (Hendricks County). At the same time, S&P Global Ratings affirmed its '##+' long-term ratings on the town's previously rated debt. The outlook on all ratings is stable. The authority was created, pursuant to Indiana Code, as a separate body, corporate and politic, and as an instrumentality of the town of Brownsburg for the purpose of financing and leasing local public improvements to the Brownsburg Redevelopment Commission, which governs the Brownsburg Redevelopment District. The boundaries of the district are coterminous with the boundaries of the town. The series 2017 bonds are secured by lease rental payments made by the Brownsburg Redevelopment Commission (coterminous with the city) to the Brownsburg Redevelopment Authority. Lease payments are secured by ad valorem property taxes, and are not subject to annual appropriation....
