HomeMy WebLinkAboutCC-11-17-80 EDC/ Coots Henke RESOLUTION NO.
THE cOMMON COUNCIL OF THE CITY OF CARMEL, INDIANA
WHEREAS, the City of Carmel,.Indiana (the "CITY") is authorized
by I.C. 18-6-4.5 (the "ACT"), to zssue revenue bonds for the finan-
cing Of economic development facilities, the fn~nds from said finan-
cing 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, COOTS, HENKE & WHEELER, A General 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 Jo COOTS, HENKE ~ WHEELER for construction of a
professional office building to be located on Carmel Drive in Carmel,
Indiana, said economic development facility to be building improve-
ments and equipment acquisitions; and
WHEREAS, it appears from the application of cOOTS, HENKE &
WHEELER 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 COOTS, HENKE &
WHEELER:
1. It finds and determines.that the pro~t~on o~ diversifica-
tion of commerce, job opportunities and payro££ zn ana 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 com-
merce 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 $400,000.00 for the Project and the loan of the proceeds of the
revenue bonds to COOTS, HENKE ~ WHEELER will serve the public pur-
poses referred to above in accordance with the Act.
3. In order to induce COOTS, HENKE & WHEELER to proceed with
the Project, the Common Council of the City of Carmel, Indiana, here-
by 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 finan-
cing, or as it may deem appropriate in pursuance thereof; pro-
vided that all the foregoing shall be as authorized by law and
is mutually acceptable to the City and COOTS, HENKE & WHEELER;
and
(b) It will adopt such resolutions and authorize the execu-
tion 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.
4. Ail costs of the Project incurred after this Resolution for
planning, engineering, interest paid during constructzo , under-
writing expenses, attorney and bond counsel fees, acquisition, con-
struction, and equipping of the Project, including reimbursement or
repayment to COOTS, HENKE ~ WHEELER 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 COOTS, HENKE &
WHEELER for the Project.
PASSED AND ADOPTED this /~ day offS, 1980.
At~s t:
~'- Cler~eas~rer
COMMON COUNCIL OF THE CITY
OF CARMEL, INDIANA
By//Presiding Officer
Presented by me to the Mayor of the City of Carmel on the /7
the /~p: ~ ~..M.
day of ~~ , 1980, at hour of
Clerk-~r~surer
/~ day offS,
APPROVED AND SIGNED by me on the
1980, at the hour of /f~ :~5~' ~..M.
Mayor