Hoosiers should beware of power, lack of accountability of Finance Authority

The authority has been around since 2006, but came to the forefront in Monroe County in the past few months with news that it brokered a deal with a private company to develop, design, construct, finance, operate and maintain Section 5 of Interstate 69. That’s the part of the highway that follows the route of Ind. 37 from a few miles south of Bloomington all the way through Monroe and north into Morgan County.

In exchange for doing its work and having that much control over a controversial, major transportation project, state taxpayers will make annual payments of $21.8 million a year for 35 years to the private company. 

Before that, the Finance Authority entered the state in the deal to lease the Indiana Toll Road for 75 years for $3.8 billion, and was responsible for approving a $2.65 billion agreement involving the purchase of synthetic natural gas.