HomeMy WebLinkAboutCRC-2014-20 A Preliminary Bond /Incidental Expenses/Various Projects RESOLUTION NO. 2014-20
A PRELIMINARY BOND RESOLUTION OF THE CITY OF CAR1VIEL
REDEVELOPMENT COMMISSION REGARDING THE ISSUANCE OF BONDS OF
THE CITY OF CARMEL REDEVELOPMENT DISTRICT FOR THE PURPOSE OF
PROVIDING FUNDS TO BE APPLIED TO PAY FOR THE COSTS OF VARIOUS
PROJECTS AND TO PAY INCIDENTAL EXPENSES IN CONNECTION THEREWITH
AND ON ACCOUNT OF THE ISSUANCE OF THE OND
WHEREAS, the City of Carmel Redevelopment Commission (the "Commission"), as
the governing body for City of Carmel Redevelopment District (the "District"), pursuant to
Indiana Code 36-7-14, as amended (the "Act), previously adopted resolutions, as subsequently
confirmed and amended, for the purposes of(a) designating an area within the City of Cannel,
Indiana (the "City"), known as the Cannel Downtown Economic Development Area (the
"Economic Development Area"), as an economic development area pursuant to Sections 41 and
43 of the Act, and (b) designating an area in the City known as the City Center Redevelopment
Area (the "Redevelopment Area''), as a redevelopment area pursuant to Section 15 of the Act
(the Economic Development Area and the Redevelopment Area, collectively, the "Areas".); and
WHEREAS, the Commission deems it necessary and advisable and in the best interests
of the District and its citizens to undertake the construction, improvement and/or equipping of
certain local public improvements, redevelopment projects and other capital improvements in or
serving the Areas as described more fully on Exhibit A hereto (collectively, the"Projects"); and
WHEREAS, the Commission deems it necessary and advisable that the Projects be
financed through the issuance of bonds of the District, in one or more series, which bonds shall
be payable from a special tax to be levied upon all of the property within the District, in.
accordance with Section 27 of the Act, and other revenues legally available to the Commission.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF CARMEL
REDEVELOPMENT COMMISSION, GOVERNING ODY OF THE CITY OF
CARIVIEL REDEVELOPMENT DISTRICT, AS FOLLOWS:
SECTION 1. The undertaking of the Projects is hereby authorized and approved.
SECTION 2. The Commission hereby makes a preliminary determination to issue bonds
of the District, in one or more series (the "Bonds"), payable from a special tax to be levied upon
all of the property within the District, in accordance with Section 27 of the Act, and other
revenues legally available to the Commission for the purpose of financing the Projects. The
Bonds are hereby preliminarily authorized to be issued upon the following conditions: (a) the
maximum aggregate original principal amount of the Bonds shall not exceed $20,000,000; and
(b) the maximum term of the Bonds shall not exceed twenty-five (25) years.
SECTION 3. The appropriate officers of the Commission are hereby authorized and
directed in accordance with applicable provisions of Indiana law to cause to be published notice
of a hearing on the appropriation of the proceeds of the Bonds and notice of the foregoing
determination to issue the Bonds.
SECTION 4. As soon as can be done after the adoption of this Resolution, the Secretary
of the Commission is hereby directed to deliver a copy of this Resolution to the Clerk-Treasurer
of the City for the approval by the Common Council for the City of the proposed issuance of the
Bonds.
SECTION 5. The President, Vice President or any other officer or member of
the Commission are authorized to take all such actions and to execute all such instruments as are
desirable to carry out the transactions contemplated by this Resolution, in such forms as such
officer or member executing the same shall deem proper, to be conclusively evidenced by the.
execution thereof.
SECTION 6. This Resolution shall be in full force and effect immediately from and
after its passage.
Passed and adopted this 30th day of October, 2014.
CITY OF CARMEL
REDEVELOPMENT COMMISSION
President
No+ ?trescvi r
Vice President
Merl r.-re 4
Member
`1\inf Pr r c4
Member
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EXHIBIT A
DESCRIPTION OF THE PROJECTS
The projects consist of the construction, renovation, improvement and equipping of
additional local public improvements, redevelopment projects and other capital improvements
in or serving the Carmel Downtown Economic Development Area and the City Center
Redevelopment Area (collectively, the "Areas"), including, without limitation (a) landscaping
and streetscaping projects, (b) lighting upgrades, (c) roads, streets, sidewalks and other public
ways, (d) parking facilities, (e) improvements, upgrades, repairs and/or relocation of water,
sewer, drainage or other utility infrastructure, (f) site work and preparation to support mixed
use development generally to be located in the Areas, and (g) other necessary public
infrastructure to be located in the Areas. Such additional local public improvements,
redevelopment projects and other capital improvements may include, without limitation, the
following specific projects:
1. Construction, improvement and/or equipping of the Park East Parking Garage Facility
2. Construction, improvement and/or equipping of extensions to Veterans Way
3. Construction, improvement and/or equipping of the roads, streets, sidewalks and other
public ways adjacent to or serving the existing or proposed Baldwin Building, the
Chambers Building, the Holland Building, the Playfair Building and the Park East
Parking Garage Facility
4. Construction, improvement and/or equipping of the Spanish Steps project
5. Construction, improvement and/or equipping of the Rangeline Road entrance
6. Construction, improvement and/or equipping of roads, streets, sidewalks and other
public ways adjacent to or serving the existing or proposed Kent Building
INDS01 BJB 1479625v2
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