HomeMy WebLinkAboutCC-07-07-97-01 Reimb Hazel Dell Bond ExpensesResolution No. CC-07-07~97-01
A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF CARMEL,
INDIANA, PROVIDING FOR REIMBURSEMENT FROM BOND PROCEEDS
WHEREAS, the City of Carmel, Indiana (the "City"), or another entity on behalf
of the City, intends to issue bonds in the maximum principal amount of $32,000,000.00
(the "Bonds"), to finance the development of the Plum Creek/Hazeldell Parkway
Economic Development Area, the 96th Street/Hazeldell Parkway Economic Development
Area, the Pennsylvania Street Noah Economic Development Area, the Pennsylvania
Street South Economic Development Area, the Old Town Economic Development Area
and the 126th Street Corridor Economic Development Area (collectively, the "Economic
Development Areas") each of which has been established by the City of Cannel
Redevelopment Commission (the "Commission"), including without limitation the
construction of certain projects and improvements described in the economic
development plans for the Economic Development Areas, which are located in or directly
serve or benefit the Economic Development Areas (the "Projects"); and
WHEREAS, certain costs of the Projects have been or will be incurred by or on
behalf of the City, prior to the issuance and delivery of the Bonds; and
WHEREAS, the Common Council of the City desires to establish its intent,
pursuant to Treas. Reg. Sec. 1.150-2 and IC 5-1-14~6(c), that said costs be reimbursed
from the proceeds o f the Bonds.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF
THE CITY OF CARMEL, INDIANA as follows:
The Common Council hereby declares its intent to provide for the issuance
of the Bonds for the purpose of financing the Projects.
The Common Council hereby declares its intent, pursuant to Treas. Reg.
Sec. 1.105-2 and IC 5-1-14-6(c), that costs incurred by or on behalf of the
City in financing and completing the Projects be reimbursed from the
proceeds of the Bonds.
o
This Resolution shall be in full force and effect from and after its adoption,
and approval by the Mayor.
PASSED by the Common Council of the City of Carmel, Indiana this
of 9L ~/ ,1997 by a vote of ,~ ayes and (3 nays.
eZ eZ
ll'/t CZtMnO_N~~t~CIL FOR THE CITY
iding Officer
day
James Guy '
N.. undle
Ronald E. Carter
ATTEST:
Diana L. Cordra~
Presented by me to the Mayor of the City of Carmel, Indiana on the 2 ! ~
of ~7~ ,1997. " ' ,'
Di erk-Treas
e I
Approved by me, Mayor of the City of Carm 1, ndiana, th
.~Py ,1997. ~
~es~Brainard, Mayor
day
ATTEST:
Diana L. Cord~urer