HomeMy WebLinkAboutCC-05-18-81 EDC/126th-Rangelin RESOLUTION ~
WHEREAS, the City of Carmel, Indiana (the "City") is authorized by the
Indiana General Assumbly, pursuant to I.C. 18-6-4.5 (the "Act") to issue
revenue bonds for the financing of economic development facilities,
the funds ofrom said financing to be used for the construction of said
facilities, and said facilities to be either leased to another person
or directly owned by another person; and
WHEREAS, G. WILLIAM ARMSTRONG has by application advised the Carmel
Economic Development Commission and the City that it proposes that the
City loan proceeds of an economic development financinq to G. William
Armstrona for the construction of an office buildin~ to be located at
126th Street and Ranqeline Road (the '!Facility") which will increase
employment opportunities and payroll in the City; and
WHEREAS, it appears from the application of G. WILLIA~~ ARMSTRONG that
the diversification of commerce 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.
NOW THEREFORE, BE IT RESOLVED by the Common Council of the City of Carmel,
Indiana, that based upon the application of G. WILLIAM ARMSTRONG:
1. It finds and determines that the promotion of diversification
of commerce, job opportunities and payroll in and near Carmel, Indiana,
is desirable to oreserve the health, safety, and oeneral welfare of
the citizens of the City; and that it is in the public interest that
the Common Council of the City of Carmel, Indiana take such action as
it lawfully may to encourage diversification of commerce 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 apprnximate amount
of $700,000.00 for the Purject and the loan of the proceeds of the revenue
bonds to G. WILLIAM ARMSTRONG will serve the public purposes referred
to above, in accordance with the Act.
3. In order to induce G. WILLIAM ARMSTRONG and to proceed with
the Project, the Common Council of the City of Carmel, Indiana, hereby
determines that:
(a) 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 the foreqoin~ shall be as authorized by the law and is mutually
acceptable to the City and G. WILLIAM ARMSTRONG; and
(b) It will adopt such resolutions and authorize the execution
and delivery of such instruments and the takina of such action
as may be necessary and advisable for the authorization, issuance
and sale of said economic development bonds.
4. All costs of the Purject 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
G. WILLIAM ARMSTRONG will be permitted to be included as part of the
bond issue to finance said Pruject and the City will thereafter loan
the proceeds of the revenue bonds to G. WILLIAM ARMSTRONG for the project.
/~ day
PASSED AND ADOPTED this __ of ~1981.
P~[ng Office
ATTEST:
Dorothy J. Ha~o~f<, ~lerk-Treasure
Presented by me to the Mayor of the City of Carmel, on the
of ~2~y ~
, 1981, at the hour of
Dorothy J. Ha~to~k, Clerk-T e
./~2 day of ~ , 1981, at
Approved and si~edj by me on the .
the hour of :5.~ f-~ ~°-M.
bom day
A. Reiman, Mayor