HomeMy WebLinkAboutCC-07-12-82 EDC/Ind. FarmersCARMEL COMMON COUNCIL
WHEREAS, the City of Carmel, Indiana (the "City") 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 and
equipping of said facilities, and said facilities to be either
leased to another person or directly owned by another person; and
WHEREAS, F~ed I. F~isch and David L. Gradison as General
Partners in an Indiana Limited or General partnership or
Partnerships ye~ to be formed or named (the .Applicant") has by
application advised the Carmel Common council and the City that it
proposes that the City loan proceeds of an economic development
financing to the Applicant for acquisition, construction and
equipping of development facilities, said economic development
facilities to be a new commercial office building to be located on
the southeast corner of 106th Street and Meridian Street, Clay
Township, Hamilton County, Indiana, on a tract of land of
approximately 5.1 acres (the .Project'); and
WHEREAS, it appears from the application of the Applicant
that the diversification of industry and increase in job
opportunities and payroll to be achieved by the Project will be of
public benefit to the health, safety and general welfare of the
City and its citizens; and
¥~EREAS, from said application it would appear that the
financing of the Project would be of public benefit to the health,
safety and general welfare of the City and its citizens; and
WHEREAS, it appears from said application that the
Project will not have an adverse competitive effect on any similar
facility already constructed or operating in the City;
Resolution of the
Carmel common council
Page Two
1. It finds and determines that the promotion of
diversification of industry, job opportunities and payroll in and
near Carmel, indiana, is desirable to preserve the health, safety,
and general welfare of the citizens of the City; and that it is in
the public interest that this Council and the City take such
action as it lawfully may to encourage diversification of industry
and promotion of job opportunities in and near said City.
2. It further finds and determines that the issuance
and sale of revenue bonds of the City under the Act in an
approximate amount of Three Million Eight Hundred Thousand Dollars
($3,800,000.00) for the Project and 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 and to proceed with
the project, this council hereby determines that:
(i) It will take or cause to be taken such actions
pursuant to the Act as may be. requi~ed to
implement the aforesaid financing, or as it may
deem appropriate in pursuance thereof; provided
that all of the foregoing shall be as
authorized by law and is mutually acceptable to
the City and the Applicant; and
(ii) It will adopt such resolutions and authorize
the execution and delivery of such instruments
and the taking of such action as may be neces-
sary and advisable for the authorization,
issuance and sale of said economic development
(iii)
bonds.
It will use its best efforts to assist Appli-
Resolution of the
Carmel Common Council
Page Three
4. Ail costS of the Project incurred after this
resolution for planning, engineering, interest paid during
construction, underwriting expenses, attorney and bond counsel
fees, acquisition, construction and equipping of the Project,
including reimbursement or repayment to the Applicant of moneys
expended by Applicant will be permitted to be included as part of
the bond issue to finance said Project, and the City will
thereafter loan the proceeds of the revenue bonds ~o the Applicant
for the project.
5. The delegation of the Carmel Economic Development
Commission and the City of Carmel shall be limited solely to the
good faith efforts to consummate said proceedings and issue the
Bonds, and neither the Commission, the City, its officers or
members shall incur any liability whatsoever if for any reason the
proposed issuance of the Bonds or the undertakings, as described
herein, are not consummated.
Dated this 12th day of July, 1982.
CARMEL COMMON COUNCIL
ATTEST:
( SEAL )
Secretary
Carmel
This Resolution has
for~appro~al on this
been presented by me to the Mayor of
/~. day of July, 1982, at