HomeMy WebLinkAboutCC-09-15-80 Brookshire WastewtrRESOLUTION OF THE COMMON COUNCIL
OF THE CITY OF CARMEL, INDIANA
WHEREAS, the City of Carmel, Indiana (the "Issuer") is
authorized by I.C. 18-6-4.5 (the "Act") to issue revenue
bonds for the financing of economic development and pollution
control facilities, the funds from said financing to be used
for the acquisition, construction and equipping of said facil-
ities, and said facilities to be either sold or leased 5o a
company or be directly owned by a company; and
WHEREAS, Hughey Inc., as representative of various
parties (the "Applicant") has advissd the Issuer that it pro-
poses that the Issuer loan the proceeds of an economic devel-
opment and pollution control financing to the Applicant for
said economic development and ~ollution control facility to
be a 400,000 gallon underground holding tank for wastewater
to be installed at the Brookshire Golf Course, ~ncluding the
real estate on which it is located and the machinery and
equipment to be installed therein, at a presently estimated
cost of approximately S250,000; and
WHEREAS, said facility will eliminate pollution and
increase in job opportunities and will be of public benefit
to the health, safety and general welfare of the Issuer and
its citizens;
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 pollu-
tion control and economic development and job opportunities
in and near Carmel, Indiana, is desirable to preserve the
health, safe~y and general welfare of the citizens of the
Issuer;' and that it is in the public interest that the Eco-
nomic Development 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 and pollution control revenue bonds
in an amoun~ of approximately $250,000 of the Issuer under
the Act for the acquisition, construction and equipping of
said facility 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 to proceed with the
acquisition, construction and equipping of said facility, the
Common Council of the City of Carmel hereby approves, deter-
mines, 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 5hereof; provided that all of
-2-
the foregoing shall be mutually acceptable to ~he Issuer and
the Applicant; and (ii) it will adop~ 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.
4. All costs of said facility incurred after the adop-
tion of this inducemenlt resolution, including reimbursement
or repayment to'the Applicant of moneys expended by the
Applicant for planning, engineering, interest paid during con-
.struction, underwriting expenses, attorney and bond counsel
fees, acquisition, construction and equipping of the facility
will be permitted to be included as part of the bond issue to
finance the facility, 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 ~he same purposes. Also, cer-
tain indirect expenses, including but not limited to, planning,
architectural work and engineering incurred prior to this
inducement resolution will be permitted ~o be included as part
of the bond issue to finance ~he facility.
Adopted this /~ day of ~,
1980.
CITY OF CARMEL
5-di~g O~ficer~
-3-
(Seal)
Attest:
Cler~~
Presente~ by 'me to the Mayor of the City of Carmel,
Indiana, on the /~J day of ~. , 1980, at the hour of
..~.': z~'o' clock,~.m.
C 1 e!k-T~r s~Zr er-
Approved and signed by me this /~ day o~2,~,
1980, at the hour of ~:~o'clock~_.m.
-4-