Pence reverses course on Posey County fertilizer plant

Pence's statement:

"Governor Mike Pence has 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.

"The proceeds of the issuance by Posey County, Indiana, of its Economic Development Refunding Revenue Bonds, Series 2013A will refund the IFA's Bonds and effectively end the State of Indiana's participation in the financing of the Midwest Fertilizer project."

Governor Pence's office issued the following statement, attributable to Communications Director Christy Denault:

"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."