HomeMy WebLinkAboutCC-02-16-81 EDC/Carmel Dr OffRESOLUTION NO. ~g-I/~-f/-/
THE COMMON COUNCIL OF THE CITY OF CARMEL, INDIANA
WHEREAS, the City of Carmel, Indiana (the "City") is authorized
by the Indiana General Assembly, pursuant to I.C. 18-6-4.5 (the
"Act") to issue revenue bonds for the financing of economic
development facilities, the funds from 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, Carmel Drive Office Building, A Limited Partnership
(C.D.O.B.L.P.), an Indiana Limited Partnership, has by application
advised the Carmel Economic Development Commission and the City that
it proposes that the City loan proceeds of an economic development
financing to C.D.O.B.L.P. for construction of Carmel Drive Office
Building in Carmel, Indiana, said economic development facilities to
be building improvements and equipment acquisitions; and
WHEREAS, it appears from the application of C.D.O.B.L.P. 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; and
NOW THEREFORE, BE IT RESOLVED by the Common Council of the City
of Carmel, Indiana, that based upon the application of C.D.O.B.L.P.:
.1. It finds and determines that the promotion of
diversification of commerce, 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 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.
It further finds and determines that the issuance
and sale of revenue bonds of the City under the
Act in an approximate amount of $2,250,000 for
the Project and the loan of the proceeds of the
revenue bonds to C.D.O.B.L.P. will serve the
public purposes referred to above, in accordance
with the Act.
In order to induce C.D.O.B.L.P. and to proceed
with the Project, the Common Council of the City
of Carmel, Indiana, hereby determines 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
the foregoing shall be as authorized by
law and is mutually acceptable to the City
and C.D.O.B.L.P.; 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 necessary and advisable
for the authorization, issuance and sale
of said economic development bonds.
All 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
C.D.O.B.L.P. 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 to
PASSED AND ADOPTED, THIS
C.D.O.B.L.P. for the project.
COMMON COUNCIL OF THE CITY OF
CARMEL, INDIANA
~r~siding Officer
Attest:
Clerk-TreaS~r
Presented by me to the Mayor of the
day ofC-?~f~x~ , 1981, at the hour of
City of Carmel on the ~
?d :~o~ _4..m'
C 1-e~l~_ Tr e'a ~r c~r '
Approved and signed by me on the _?
at the hour of fO_: ?~ Zf~,m'
day of ~/~~2, 1981,