HomeMy WebLinkAboutD-252 Econ Dev/Anacomp0RDZEANCE D.-2~2
..N THE CITY OF
ORDINANCE AUTHORIZ i G
CARMEL TO ISSUE ITS "ECONOMIC DEVELOPMENT
FIRST MORTGAGE REVENUE BONDS, SERIES 1980
(ANACOM]P, INC. PROJECT)" AND APPROVING
OTHER ACTIONS IN RESPECT THERETO
WHEREAS, the Carmel Economic Development Commission has
rendered its Project Report for the Anacomp, Inc. Project
regarding.the financing of proposed economic development
facilities for Anacomp, Inc. a~--thc Carme-~ Com~,iss-i~D~-
~v^~ab!y3ehef-e~rr;, and
WHEREAS, the Carmel Economic Development Commission con-
ducted a public hearing on~ /~ ., 1980, and also adopted
,/"~ been
a resolution o %_~/~ /~ 1980 which Resolution has
transmitted hereto, finding that the financing of certain eco-
~omic development facilities of Anacomp, Inc. complies with the
purposes and provisions of I.C. 18-6-4.5 an~ that such financ-
ing will be of benefit to the health and welfare of the City of
Carmel and its citizens; and
WHEREAS, the Carmel Economic Development Commission has
heretofore approved and recommended the adoption of this form
of Ordinance by this Common Council and has approved the forms
of and has transmitted for approval by the Common Council the
Loan Agreement, Note, and Mortgage and Indenture of Trust; now
therefore,
BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF CARMEL,
INDIANA THAT:
Section 1. It ~s hereby foun~ that the financing of the
economic development facilities referred to in the Loan Agree-
ment approved by the Carmel Economic Development Commission and
presented to this Common Council, the issuance and sale of
revenue bonds, the loan of the proceeds of the revenue bonds to
Anacomp, Inc. for the acquisition and construction of such
facilities and the equipping thereof, %he payment of the reve-
nue bonds by the note paymentS of Anacomp, Inc. under the Loan
Agreement and Note, and the securing of said bonds by the mort-
gaging of such ~acilities to the Trustee under the Mortgage and
Indenture of Trust complies with the purposes and provisions of
I.C. 18-6-4.5 and will be of benefit to the health and welfare
of the City of Carmel and its citizens.
Section 2. The final forms of the Loan Agreement, Note,
and Mortgage and Indenture of Trust approved by the Carmel Eco-
nomic Development Commission are hereby 9PProved and all such
documents (herein collectively re~erred to as the "Financing
Agreement" referred to in I.C. 18-6-4.5), shall be incorporated
herein by reEerence and shall be inserted in the minutes of the
Common Council and kept on file by the Clerk-Treasurer-
Section 3. The City of Carmel shall issue its Economic
Development First Mortgage Revenue Bonds, Series 1980 (Anacomp,
Inc. Project), in the total princIpal amount of One Million
Dollars ($1,000,000) for the purpose of
the costs of acquisition, construction
economic development facilities as more
procuring funds to pay
and equipping of the
particularly set out in
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the Mortgage and indenture of TruSt and Loan Agreement incorpo-
rated herein by reference, which bonds will be payable as to
principal, premium, if any, and intereSt from the note paymentS
made by Anacomp, Inc. under the Loan Agreement and Nc~e or as
otherwise provided in the above described Mortgage and Inden-
constitute a general
ture of Trust. The Bonds shall never
obligation of, an
general credit of
indebtedness of, or a charge against the
the City of Carmel.
Section 4. The Mayor and Clerk-Treasurer are authorized
and directed to sell such bonds to the purchasers thereof at a
rate of interest on the bonds not to exceed 9% per annum and at
a price not less than 100% of the principal amount thereof.
Section 5. The Mayor and Clerk-Treasurer are authorized
and directed to execute the documentS constituting the FInanc-
ing Agreement approved herein on behalf of the City and any
other document which may be necessary or desirable to consum-
mate the transaction~ including the bonds authorized herein.
The signatures of the Mayor and Clerk-Treasurer on the bonds
may be facsimile signatures. The Clerk-Treasurer is authorized
to arrange for delivery of such Bonds to the Trustee named in
the Mortgage and Indenture of Trust, payment for which will be
made to the Trustee named in the Mortgage and Indenture of
Trust and delivered by the Trustee to the purchasers thereof.
Section 6. The provisions of this Ordinance and the Mort-
gage and Indenture of Trust securing the bonds shall constitute
a contract binding between the City of Carmel and the holder of
the Economic Development First Mortgage Revenue Bonds, Series
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1980 (Anacomp, Inc. Project~ , and after the issuance of said
bonds, this Ordinance shall not be repealed or amended in any
respect which would adversely affect the rights of such holders
so long as any of said bonds or the interest thereon remains
unpaid.
Section 7.
effect from and
passed
This ordinance shall be in full force and
after its passage and signing by the Mayor.
and adopted this ~ day of~-~ .., 1980.
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COMMO cou
Attest'.
Presented
on this ~.
Approved
U§idi g
by me to the Mayor of the City of Carmel, Indiana,
of ~.~z~,.._, 1980, at the hour of ~'~O_ ~m.
day
C ler k-Treasurer
and signed by me on this__S day of ~
1980.
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