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HomeMy WebLinkAboutCc-05-20-85 Econ Dev. 110thRESOLUTION OF THE COMMON COUNCIL THE CITY OF CARMEL, INDIANA WHEREAS, the city of Carmel, Indiana (the "Issuer") is authorized by I.C. 36-7-12 (the "Act") to issue revenue bonds for the financing of economic development facilities, the funds from said financing to be used for the acquisition, construction, in- stallation, and equipping of said facilities either sold or leased to a company or directly owned by a company; and WHEREAS, Stenz & Associates or a partnership to be formed in which Leo Stenz and Rodney Hall are general partners or a corpor- ation to be formed in which Leo Stenz and Rodney Hall are princi- pals (the ,,Applicant") has advised the Carmel Economic Development Commission (the ,,Commission") and the Issuer that it proposes that the Issuer either acquire, construct, install, and equip certain economic development facilities and sell or lease the same to the Applicant or loan the proceeds of an economic development finan- cing to the Applicant for the same, said economic development facilities to be the acquisition, construction, installation, and equipping of a two phase development of a commercial office com- plex (phase I will be the construction of a new building contain- ing approximately 26,100 gross square feet and 22,200 net leasable square feet of commercial office space for lease. Phase II will be the construction of a new building containing approximately 79,200 gross square feet and 63,360 net leasable square feet of commercial office space for lease) and the machinery and certain site improvements Street on approximately 6 (the ,,Project"); and equipment to be installed therein plus to be located at 10015 North Meridian acres of land, Hamilton county, Indiana WHEREAS, the diversification of industry and increase in job opportunities (approximately 5 new jobs at the end of one year and at the end of three years) to be achieved by the acquisition, con- struction, installation and equipping of the Project will be of public benefit to the health, safety and general welfare of the Issuer and the citizens of Hamilton County, Indiana; and WHEREAS, having received the advice of the Carmel Economic Development commission, it would appear that the financing of the Project will be of public benefit to the health, safety and and the citizens of Hamilton County, general welfare of the Issuer Indiana; and WHEREAS, it is preliminarily found that the acquisition, con- struction, installation and equipping of the facilities will not have an adverse competitive effect on any similar facility already constructed or operating in or about Carmel or Hamilton county, Indiana; now therefore: BE IT RESOLVED BY THE COMMON COUNCIL AS FOLLOWS: SECTION 1. The common Council of the City of Carmel finds, determines, ratifies and confirms that the promotion of diversifi- cation of economic development and job opportunities in and near Carmel and Hamilton County, Indiana, is desirable to preserve the health, safety and general welfare of the citizens of the Issuer; and that it is in the public interest that the commission and said Issuer take such action as it lawfully may to encourage diversifi- cation of industry and promotion of job opportunities in and near said Issuer. SECTION 2. The Common council of the city of Carmel, further finds, approves, determines, ratifies, and confirms that the issuance and sale of economic development revenue bonds of the Issuer in an amount of approximately Eight Million Dollars ($8,000,000) under the Act for the acquisition, construction, installation and equipping of the project and the sale or leasing of the project to Applicant or the loaning of the proceeds of the revenue bonds to the Applicant will serve the public purposes referred to above, in accordance with the Act. SECTION 3. In order to induce the Applicant to proceed with the acquisition, construction, installation and equipping of the Project, the Common Council hereby finds, approves, determines, ratifies, and confirms that (i) it will take or cause to be taken such actions pursuant to the Act as may be required to implement the aforesaid financing, or as it may deem appropriate in pursuance thereof; provided that all of the foregoing shall be mutually acceptable to the Issuer and the Applicant; (ii) it will adopt such ordinances and resolutions and authorize the execution