HomeMy WebLinkAboutCC-08-18-80 EDC/SkatetimeRESOLU~I )N OF THE COMMON COUNCIL
CITY OF CARMEL, INDIANA
August /8., 1980
WHEREAS, the City of. Carmel, Indiana, (~e "Issuer") is authorized by
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
acquisition, construction an~l equipping of said facilities either directly or
by loan to a company, and said facilities to be either directly owned by a
company or leased to a companf or sold to a company; and
WHEREAS, SKATETIME (the "applicant") has advised the Carmel Economic
Development Commission and the Issuer that it proposes that the Issuer loan
Applicant for
facility, said
Four Thousand Four Hundred
proceeds of an economic d(~v~lopmcnt revenue bond to the
acquisition and construction of an economic development
economic development facility to be a Twenty
(24,400) square foot roller skating rink including the real estate on which it
is located on an approximate two and seven tenths (2.7) acre tract of land
(the "Project") in Carmel, Hamilton County, Indiana; and
WHEREAS, the diversification of economic development increase in job
opportunities (approximately twenty 120] new jobs) to be achieved by the
acquisition and construction of the Project will be of public benefit to the
health, safety and general welfare of the Issuer and its citizens; and
WHEREAS, having received the advice of the Carmel Economic Development
Commission, it would appea~ that the financing of the Project would be of
public benefit to the health, ~afety and general welfare of the Issuer and its
citizens; and
WHEREAS, the acquisition and construction of the facility will not have an
adverse competitive effect on any similar facility already constructed or
operating in Carmel, Indiana;
NOW, THEREFORE, BE IT EESI.)LVI~D by the Common Council of Carmel, Indiana:
1. The Common Council find!s, determines, ratifies and
2. The Common Council further finds, determines, ratifies
and confirms that the issua~%ce and sale of revenue bonds in an
amount not to exceed $800,000 of the Issuer under the Act for
the loan of the proce~ 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 the Project, the
Common Council hereby finds, determines, ratifies and confirms
that (i) it will take or cause to be taken such actions pursuant
to the Act as may be r~ quired to implement the aforesaid
financing, or as it may de. em appropriate in pursuance thereof;
provided that all of the toregoinq shall be mutually acceptable
to the Issuer and the AI~I>] icant; (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 bond.~.
4. All costs of the l~roject incurred after the passage of
this inducement resolut ]on~ including reimbursement or
repayment to the Applicant of moneys expended by the Applicant
for planning, underwriting expenses, attorney and bond counsel
fees and acquisition of the Project, will be permitted to be
included as part of the bond issue to finance said Project, and
the Issuer will thereafter lc)an the proceeds of such financing
Adopted this /~ day of
., 1980.
Presented by me for City
on the ~ day of August,
Approved and signed by me
of ~:~ o'clo~ .m.
use to the ~ayor of the City of Carmel, Indiana,
]gg0, at the hour of c~-~dD o'clock~-m-
Clerk-Trea~"
this ~-~ day of August, 1980, at the hour