Chrysler returns $5.5 million to Tipton County

INDIANAPOLIS – Chrysler has returned $5.5 million in bonds to Tipton County to settle a dispute over millions of dollars the county spent toward a transmission plant that a Chrysler supplier stopped building last year.

The bonds were used to pay for infrastructure at the plant site along U.S. 31.

Tipton County Commissioner Jane Harper said the county has dropped its request that Chrysler return $4.2 million for other bonds and $300,000 in county economic development funds.

Getrag Transmission Manufacturing halted construction on the 900,000-square-foot plant in October 2008 after Chrysler pulled out of a financing agreement for the plant about 35 miles north of Indianapolis.