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HomeMy WebLinkAboutCC-12-05-83 Real MechanicalRESOLUTION OF THE COMMON COUNCIL OF T}{E CITY OF CARMEL, INDIANA WHEREAS, the City of Carmel, Indiana (the "Issuer") is authorized by IC 36-7-12 (the "Act") to issue revenue bonds the financing of economic development facilities, the funds from said financing to be used for the and equipping of said facilities, and e~ther sold or leased to a company or company; and WHEREAS, Joseph R. for acquisition, construction said facilities to be directly owned by a Meeks (the "Applicant") has advised the which it Township, and C~rmel Economic Development Commission (the "Commission") and the Issuer that he proposes that the Issuer either acquire, construct and equip an economic development facility and sell or lease the same to the Applicant or loan proceeds of an economic development financing to the Applicant for the same, said economic development facility to be a 14,400 square foot office and warehouse facility, including the real estate on is located, to be located at Park Northwestern in Clay on an approximate 2.5 acre tract of land ("Project"); WHEREAS, the diversification of industry and increase in job opportunities (45 new jobs)" to be achieved by the acquisi- tion, construction and equipping of the Project will be of public benefit to the health, safety and general welfare of the Issuer and its citizens; and WHEREAS, the Applicant will lease the Project to Real Mechanical, Inc.; and WHEREAS, having received the advice of the Carmel Economic Development Commission, it would appear that the financing of the Project would be of public benefit to the health, safety and general welfare of the Issuer and its citizens; and WHEREAS, it is preliminarily found that the acquisition, construction and equipping of the facility will not have an adverse competitive effect on any similar facility already constructed or operating in Carmel, Indiana; NOW, THEREFORE, BE IT RESOLVED BY THE Common Council of the City of Carmel, as follows: 1. The Common Council of the City of Carmel finds, determines, ratifies and confirms that the promotion of diversification of economic development and job opportunities in and near Carmel, 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 the Issuer take such action as they lawfully may to encourage economic development, diversification of industry and promotion of job opportunities in and near the Issuer. 2. The Common Council of the City of Carmel approves, determines, ratifies and confirms that the issuance and sale of economic development revenue bonds in an amount of approximately $520,000 of the - 2 Issuer under the Act for the acquisition, construction and equipping of the Project and the sale or leasing of the Project to the Applicant or the loan of the proceeds of the revenue bonds to the Applicant, will serve the public purposes referred to above, in accordance with the Act. 3. In order to induce the Applicant to proceed with the acquisition, construction and equipping of the Project, the Common Council of the City of Carmel hereby 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; and (ii) it will adopt such ordinances and resolutions and authorize the execution and delivery of such instruments and the taking of such action as may be necessary and advisable for the authorization, issuance and sale of said economic development revenue bonds; and (iii) it will use its best efforts at the request of Applicant to authorize the issuance of additional bonds for refunding and refinancing the outstanding principal amount of the bonds, for completion of the Project and for additions to the Project, including the costs of issuance (providing that the financing of such addition or - 3 - additions to the Project is found to have a public purpose [as defined in I.C. 36-7-12-1] at the time of authorization of such additional bonds), and that the aforementioned purposes comply with the provisions of I.C. 36-7-12. 4. All costs 'of the Project incurred after the adoption of this inducement resolution, including reimbursement or repayment to the Applicant of moneys expended by the Applicant for planning, engineering, interest paid during construction, underwriting expenses, attorney and bond counsel fees, acquisition, construction and equipping of the Project will be permitted to be included as part of the bond issue to finance the Project, and the Issuer will sell or lease the same to the Applicant or loan the proceeds from the sale of the bonds to the Applicant for the same purposes. Also, certain indirect expenses, including but not limited to, planning, architectural work and engineering incurred prior to this inducement resolu- tion will be permitted to be included as part of the bond issue to finance the Project. 5. The obligations of the Commission and the Issuer shall be limited to the good faith efforts to consummate said proceedings and issue the bonds, and neither the Commission, the Issuer, its officers or members, shall incur any liability whatsoever if for - 4 - any reason the proposed issuance of the bonds or the undertakings, as described herein, are not consummated. CITY OF CARMEL (SEAL) Attest: Cle~k-Treas~ Presiding Officer Presented by me/~o,~t~or of the City of Carmel, on the ~ day of ~T~ber, 1983, at the hour of ~'~. o'clock ~.m. at Indiana, Approved the and signed by me this _~ day of N~-~b~-r, 1983 hour of/O :~O o'clock ~.m. - 5 EXCERPTS FROM MINUTES OF A MEETING OF THE COMMON COUNCIL OF THE CITY OF CARMEL OF NOVE~ER __, 1983 The Common Council of the City of Carmel met at in said City on the day of November, 1983, at the hour of ~: p.m, pursuant to notice duly given pursuant to statute. The meeting was called to order by the presiding officer, , who presided. On call of the roll, the members of the Common Council were shown to be present or absent as follows: Present: Absent: An inducement resolution previously adopted by the Carmel Economic Development Commission recommending that the City of Carmel go forward with economic development revenue bond financing for Joseph R. Meeks ("Applicant") in order to induce the Applicant to construct an office and warehouse facility in or nea~ the City of Carmel, Indiana, was presented to the Common Council for consideration. The Presiding Officer read a proposed form of resolution regardi! The Presiding Officer then put ~he question of for adoption of the resolution on the same day and at the same meeting to the Council on call of roll. Such consent was given by the follOwing vote: Ayes: the Nays: 0 it was then moved by Councilman , seconded by Councilman , that the following resolution authorizing, ratifying and confirming said inducement be adopted. to-wit: Said resolution Said resolution was Ayes: is in words and figures following, (H. I.) adopted by the following vote: Nays: I, Dorothy J. Hancock, the duly qualified and acting Clerk- Treasurer of the City of Carmel, Indiana, do hereby certify that the above and foregoing isa true and exact excerpt of minutes of the meeting of the Common Council of the City of Carmel, Indiana, at which meeting a quorum was in attendance and acting throughout, and held November __, 1983 as such appears in the official minutes of said Common Council in my custody. (SEAL) Clerk-Treasurer City of Carmel, Indiana - 3 -