HomeMy WebLinkAboutCC-05-17-21-01/Sale of Police Station Property Proceeds Appropriated to Carmel Municipal Facilities Bldg CorpSponsors: Councilors Rider
and Worrell
RESOLUTION CC- 05-17-21-01
A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF CARMEL,
INDIANA APPROPRIATING PROCEEDS OF THE TRANSFER OF REAL ESTATE
INTERESTS TO THE CARMEL MUNICIPAL FACILITIES BUILDING
CORPORATION
Synopsis:
This resolution approves appropriation of proceeds of sale of existing Police Station Property to
Carmel Municipal Facilities Building Corporation
WHEREAS, the City of Carmel, Indiana (the “City”) has entered into a lease (the
“Lease”) with the Carmel Municipal Facilities Building Corporation (the “Corporation”) for the
purpose of financing (a) the acquisition of property, construction, renovation, installation, and
equipping of buildings and other improvements related thereto comprising an expansion to the
police headquarters to be located at or near 998 South Rangeline Road in the City, and (b) the
renovation, installation and equipping of buildings, the construction and equipping of a garage
and data center, the acquisition and installation of an internet fiber ring, all in connection w ith
the establishment of an information technology (“IT”) facility for the police department and
other improvements related thereto, including, but not limited to expenses of physically moving
the IT department from the existing police station to such new facilities (clauses (a) and (b),
collectively, the “Project”); and
WHEREAS, to provide for the financing and construction of the Project, the Corporation
proposes to issue lease rental revenue bonds in a maximum aggregate principal amount not to
exceed $38,000,000 (the “Bonds”) pursuant to the terms of a trust indenture (the “Indenture”)
between the Corporation and a trustee bank, which Bonds are payable solely from and secured
exclusively by the trust estate established pursuant to the Indenture, which includes the lease
rentals received by the Corporation under the Lease; and
WHEREAS, it is necessary for the Corporation to own the existing police station
property and property upon which the Project will be constructed (the “Real Estate”) for
purposes of the construction of the Project and lease of the Real Estate to the City; and
WHEREAS, the City currently owns a portion of the Real Estate more particularly
described on Exhibit A hereto (the “Police Station Property”) and has approved the transfer of
the Police Station Property to the Corporation; and
WHEREAS, the City desires intends to apply the proceeds received by the City from the
sale of all or any portion of the Police Station Property to the Corporation (the “Sale Proceeds”)
to the costs of all or any portion of the Project not funded by the Corporation; and
WHEREAS, the Common Council (the “Council”) has found that there are insufficient
funds available or provided for in the existing budget and tax levy which may be applied to the
costs of the Project and has authorized the execution of the Lease and issuance of the Bonds to
procure such funds and that an extraordinary emergency exists for the making of the additional
appropriation hereafter set out; and
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WHEREAS, notice of a hearing on said appropriation has been duly given by
publication and posting as required by law, and the hearing on said appropriation has been held
on May 17, 2021, at which all taxpayers had an opportunity to appear and express their views as
to such appropriation.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF
THE CITY OF CARMEL, INDIANA, that:
Section 1. The Sale Proceeds, in an amount not to exceed $4,000,000, together with
all investment earnings thereon, shall be and the same are hereby appropriated for the purpose of
paying the costs of the Project. Such appropriation shall be in addition to all appropriations
provided for in the existing budget and shall continue in effect until the completion of the
Project.
Section 2. The Mayor, Controller and other appropriate officers of the City are
hereby authorized, empowered and directed, on behalf of the City to take any other action as
such individual deems necessary or desirable to effectuate the foregoing resolutions , including
the filing of a report of this appropriation with the Indiana Department of Local Government
Finance, and any actions heretofore made or taken be, and hereby are, ratified and approved.
Section 3. This resolution shall be in full force and effect from and after its adoption.
PASSED by the Common Council of the City of Carmel, this _____ day of _____________,
2021, by a vote of ______ ayes and _____ nays.
COMMON COUNCIL FOR THE CITY OF CARMEL, INDIANA
___________________________________
Sue Finkam, President Kevin D. Rider, Vice-President
___________________________________ ____________________________________
Laura Campbell H. Bruce Kimball
___________________________________ ____________________________________
Jeff Worrell Anthony Green
___________________________________ ___________________________________
Adam Aasen Tim Hannon
___________________________________
Miles Neslon
ATTEST:
__________________________________
Sue Wolfgang, Clerk
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17th May
Not Present
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Presented by me to the Mayor of the City of Carmel, Indiana this ____ day of
_________________________ 2021, at _______ __.M.
____________________________________
Sue Wolfgang, Clerk
Approved by me, Mayor of the City of Carmel, Indiana, this _____ day of
________________________ 2021, at _______ __.M.
____________________________________
James Brainard, Mayor
ATTEST:
___________________________________
Sue Wolfgang, Clerk
Prepared by: Bruce D. Donaldson
Barnes & Thornburg LLP
11 South Meridian Street
Indianapolis, IN 46204
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19th
May
19th
10:30May
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Exhibit A
Depiction of the Police Station Property
The Police Station Property consists of certain real estate, facilities and improvements
located at Parcel Number 16-09-36-00-00-008.001, commonly referred to as 3 Civic Square,
Carmel, Indiana.
DMS 19826074.1
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