HomeMy WebLinkAboutD-68 EDC Bond/Ice Skadium ORDINANCE NO. '~'~%
An Ordinance of the Tow~n of Carmel authorizing
acquisition, construction and leasing of economic
development facilities, the issuance of revenue bonds
to apply on the cost thereof, the safeguarding of the
interests of the holders of said bonds, approving and
authorizing a lease and a trust indenture, and other
matters relating thereto.
WHEREAS, the Carmel Development Commission has adopted Resolu-
tion No. 7~-/ , approving a form of Lease Agreement between the
Town of Carmel and Ice Management, Inc., and
WHEREAS, said Resolution No. 7~-/ also approves a form of
Trust Indenture between the Town of Carmel, Indiana, and Merchants
National Bank and Trust Company of Indianapolis, as Trustee, and
WHEREAS, said Resolution No. ~-/ also approves this Ordinanc
authorizing the execution of said lease and Trust Indenture and
authorizing the issuance of Economic Development First Mortgage
Revenue Bonds (Ice Management, Inc.) of the Town in the amount of
Seven Hundred Thousand Dollars ($700,000.00), and
WHEREAS, IC 1971, 18-6-4.5 authorizes the issuance of revenue
bonds to apply on the cost of such a project, and
WHEREAS, the Board of Trustees finds that this Ordinance and
the project and bond issue authorized by it, will be of public
benefit to the welfare and health of the Town and that such benefit
is greater than the cost of any public facilities which will be
required by the proposed project, and
WHEREAS, all conditions precedent to the adoption of an
)rdinance authorizing the issuance of said revenue bonds to apply on
the project costs have been complied with in accordance with the
provisions of the governing statutes;
NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE
TOWN OF CARMEL, INDIANA:
~ ] Tbm~ th~ T~n of Carmel. actin~ through its Develo
necessary contracts for acquisition of the economic development
facilities to be leased to Ice Management, Inc.
Section 2. That the Town of Carmel enter into a Lease Agree~
ment with Ice Management, Inc. as provided in said Resolution No.
7~-/ The form of said Lease Agreement is hereby incorporated
into this Ordinance by reference and marked "Exhibit A", to be
inserted into the minutes of the Board of Trustees and to be kept
on file by the Clerk-Treasurer. The form and terms of said Lease
Agreement are hereby approved.
Section 3. That the Town of Carmel enter into the Trust
Indenture with the Merchants National Bank and Trust Company of
Indianapolis, as provided in said Resolution No. Tx/-/. The form oJ
Trust Indenture, the form of said revenue bonds, the details per-
taining to the issuance of the bonds and the terms and conditions
thereof shall be as set forth in the form of the Trust Indenture
which is hereby incorporated into this ordinance by reference,
marked "Exhibit B", to be inserted into the minutes of the Board of
Trustees and kept on file by the Clerk-Treasurer. The form of said
Trust Indenture, said revenue bonds and the terms and conditions
thereof are hereby approved.
Section 4. That the Town of Carmel issue ~s Economic Develop-
ment First Mortgage Revenue Bonds (Ice Management, Inc.) in the
amount of Seven Hundred Thousand Dollars ($700,000.00), under the
terms and conditions of the Lease and Trust Indenture, for the pur-
pose of procuring funds to apply on the project costs.
Section 5. The provisions of this Ordinance and the Trust
Indenture securing the bonds shall constitute a contract by and
between the Town of Carmel and the holders of the revenue bonds
3
will adversely affect the rights of such holders so long as any of
said bonds or the interest thereon remain unpaid.
Section 6. The President of the Board of Trustees and the
Clerk-Treasurer are hereby authorized to execute and attest said
Lease and said Trust Indenture in the form and manner provided
therein and with such modifications as may be necessary and desir-
able. The President of the Board of Trustees, the Clerk-Treasurer,
the Development Commission and other officials of the Town are
hereby authorized and directed to perform all acts required by and
authorized under the said Lease and Trust Indenture; and are
further authorized to take all action necessary to sell and deliver
said bonds as authorized by law.
Section 7. Ail ordinances or parts of ordinances in conflict
herewith are hereby repealed.
Section 8. This ordinance shall be in full force and effect
from and after its passage.
Passed and adopted by the Board of Trustees of the Town of
Carmel, Indiana, this 14th day of May, 1974.
A~O O'CLOCK ~i~ Oeo~e Fi ~'tevens
JUN 24 1574
BOOK BAGE ......
Stanley Bo Beach
Frederick P. ltinshaw
William D. McFadden
BOARD OF TRUSTEES,
TOWN OF CARMEL, INDIANA