HomeMy WebLinkAboutD-1555-02 Thomson TIF Refund.Sponsor: Councilor Snyder
ORDINANCE NO. D-1555-02
AN ORDINANCE OF THE COMMON COUNCIL
OF THE CITY OF CARMEL, INDIANA, AUTHORIZING
ISSUANCE OF TAX INCREMENT REVENUE BONDS BY THE
HAMILTON COUNTY REDEVELOPMENT COMMISSION
WHEREAS, the Hamilton County Redevelopment Commission ("County
Redevelopment Commission") on December 17, 1991 issued its Redevelopment District Tax
Increment Revenue Bonds of 1991 ("1991 Bonds") to finance infrastructure improvements in the
Thomson Electronics Economic Development Area ("Area");
Area;
WHEREAS, the 1991 Bonds are payable from tax increment revenues collected in the
WHEREAS, the City of Carmel has annexed the Area;
WHEREAS, the County Redevelopment Commission desires to issue refunding bonds
("Refunding Bonds") to refund the 1991 Bonds in order to produce a substantial savings of debt
service; and
WHEREAS, IC 36-7-14-3.5 requires the Cannel Common Council to approve the
issuance of the Refunding Bonds by ordinance;
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of
Camel, Indiana, as follows:
Section I: The issuance of the Refunding Bonds by the County Redevelopment
in an amount estimated not to exceed Four Million One Hundred Thousand Dollars
is hereby approved.
:ommission
$4,100,000)
Section II: All prior Ordinances or parts thereof inconsistent with any prowsion of this
Ordinance are hereby repealed.
Section III: This Ordinance shall be in full force and effect from and after its passage and
signing by the Mayor.
PASSED by the Common Cotmcil of the City of Carmel, Indiana this/(t~, '//'day of
["~tl (/'¥9 'h2002' by a vote of l ~! ayes and _ Ci nays.
COMMON COUNCIL FOR THE CITY OF CARMEL
Way~e~ilson, President Pro Tempore c ,, ~ ~v~/eta ~,..,. ~
ATTEST:
Diana L. Cordray, IAMC, Clerk-T~surer
Presented by me to the Mayor of the City of Carmel, Indiana this (! ] ~ ~5 .
.. i, day of'
2002, at ( :(5 (': P.M.
Diana L. Cordray, I~C, CGrk-Trehsurer
2002, a PM. ,
ATTEST:
-/.~ ,
Diana L. Cordray, IAMC, Clerk-Treasurer
Prepared by:
Michael A. Howard
Attorney for Hamilton County
694 Logan Street
Noblesville, IN 46060
(317) 773-4212