HomeMy WebLinkAboutCC-04-21-80 Fidelity Water MainRESOLUTION 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 issue revenue
bonds for the financing of economic development facilities,
the funds from said financing to be used for the construc-
tion of said facilities, and said facilities to be either
leased to another person or directly owned by another per-
son; and
WHEREAS, Fidelity Office Building, A Limited Partner-
ship (F.O.B.L.P.), an Indiana corporation, has by appli-
cation advised the Carmel Economic Development Commission
and the City that it proposes that the City loan proceeds
of an economic development financing to F.O.B.L.P. for in-
stallation of a 12" public water main to the Fidelity Bank
Plaza and construction of Fidelity Bank Plaza Tower II in
Carmel, Indiana, said economic development facilities to
be building improvements and equipment acquisitions; and
WHEREAS, it appears from the application of F.O.B.L.P.
that the diversification of commerce and increase in job
opportunitie~ and payroll to be achieved by the Project
will be .of public benefit to the health, safety, and gen-
eral 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 appli-
cation of F.O.B.L.P.:
It finds and determines that the promotion of
diversification of commerce, job opportunities
and payroll in and near Carmel, Indiana, is
Indiana, take such action as it lawfully
may to encourage diversification of com-
merce and promotion of job opportunities
in and near said City.
am
It further finds and determines that the
issuance and sale of revenue bonds of
the City under the Act in an approximate
amount of $1,000,000 for the Project and
the loan of the proceeds of the revenue
bonds to F.O.B.L.P. will serve the pub-
lic purposes referred to above, in ac-
cordance with the Act.
In order to induce F.O.B.L.P. and to pro-
ceed with the Project, the Common Council
of the City of Carmel, Indiana, hereby
determines that:
±)
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 pursu-
ance thereof; provided that all
the foregoing shall be as author-
ized by law and is mutually accept-
able to the City and F.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.
4. Ail costs of the Project incurred after
fees, acquisition, construction, and
equipping of the Project, including
reimbursement or repayment to F.O.B.L.P.
will be permitted to be included as part
of the bond issue to finance said Pro-
ject and the City will thereafter loan
the proceeds of the revenue bonds to
F.O.B.L.P. for the Project.
PASSED AND ADOPTED, THIS
day of , 1980.
COMMON COUNCIL OF THE CITY OF
CARMEL, INDIANA
P~ding
Attest:
Clerk-Trea~
Presented by me to the Mayor of the City of Carmel on the
day of ~ , 1980, at the hour of _ ~:~ .~m.
Cler~e~
Approved and signed by me on the ~/ day of ~
at the hour of ,~: ~ ~.m.
, 1980,