HomeMy WebLinkAboutBPW 08-23-17-01/ Approving the Sale of Certain City Junior Waterworks Refunding Revenue BondsRESOLUTION NO. BPW 08-23-17-01
A RESOLUTION OF THE BOARD OF PUBLIC WORKS OF THE CITY
OF CARMEL, INDIANA. APPROVING THE SALE OF CERTAIN CITY
OF CARMEL, INDIANA. JUNIOR WATERWORKS REFUNDING
REVENUE BONDS OF 2017, AND CERTAIN RELATED MATTERS
WHEREAS, on May 15, 2017, the Common Council of the City of Carmel, Indiana (the
"City") adopted its Ordinance No. D-2364-17 authorizing the issuance by the City of its Junior
Waterworks Refunding Revenue Bonds of 2017 (the 'Bonds"); and
WHEREAS, the City desires to issue and sell the Bonds in an aggregate principal
amount of Thirteen Million Dollars ($13,000,000) pursuant to a Bond Purchase and Loan
Agreement (the 'Bond Purchase and Loan Agreement") by and among the City and International
City Bank, NA, United Fidelity Bank, fsb and Merchants Bank of Indiana (collectively, the
'Bond Purchasers"); and
WHEREAS, there has been presented to the Board of Public Works of the City of
Carmel, Indiana (the 'Board of Public Works") at this meeting for its approval a form of the
Bond Purchase and Loan Agreement;
NOW, THEREFORE, BE IT RESOLVED by the Board, as follows:
Section 1. The foregoing Recitals are incorporated herein by this reference.
Section 2. The Bond Purchase and Loan Agreement is hereby approved and ratified
substantially in the form presented to this meeting, and the Mayor of the City is authorized to
indicate such approval on the Bond Purchase and Loan Agreement in the form approved hereby
with such changes as the Mayor approves, such approval to be conclusively evidenced by his
execution thereof. The issuance and sale of the Bonds to the Bond Purchasers is further hereby
approved.
Section 3. In connection with the issuance of the Bonds by the City, the members of the
Board of Public Works are, and each of them is, hereby authorized to take any and all actions
and to execute all such instruments as may be necessary or appropriate to accomplish the
issuance of the Bonds, in such forms as the officers executing the same shall deem proper, to be
evidenced by the execution thereof.
SO RESOLVED.
s
22 PASSED by the Board of Public Works and Safety of the City of Carmel, Indiana, this
l day of 2017, by a vote of ayes and �_ nays.
CITY OF CARMEL, INDIANA
By and through its Board of Public Works and
Safety ("Board")
By:
Ja Presiding Officer
Date:.4 — 7, 3 �-
Marys Burke, McI7 3 �/
Date: /
Lori Watson, M ber
Date:
7A'?
Christine Pauley, Clerk-Trer7-3�jl
Date:
US.113754878.01
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