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HomeMy WebLinkAboutCCM-03-21-98City Carmel CARMEL CITY COUNCIL MEETING AGENDA* SATURDAY, MARCH 21, 1998 -- 8 A.M. COUNCIL CHAMBERS / CITY HALL ] ONE CIVIC SQUARE COFFEE AND DONUTS (8 a.m.) 1. MEETING CALLED TO ORDER (8:30 a.m.) PRESENTATION a. (8:30 a.m.) Accounting Software; Clerk-Treasurer Diana Cordray and Deputy Clerk Cindy Sheeks b. (9 a.m.) Special Projects; Mayor James Bralnard c. (9:30 a.m.) City Cemer Bond Issue; Mike Eckefle of McHale Cook & Welch, City Council Attorney (10:30 a.m.) DISCUSSION a. International Art Festival b. Park Board Memorandum c. Council Meetings, Carmel City Code Section 3-12 4. ADJOURNMENT *Councilors, Please bring your Cannel City Code Books to the meeting. ONE CIVIC SQUARE CARMEL, INDIANA ~6032 317/571-2400 CARMEL CITY COUNCIL MEETING MINUTES SATURDAY, MARCH 21, 1998 -- 8 A.M. COUNCIL CHAMBERS / CITY HALL / ONE CIVIC SQUARE MEMBERS PRESENT: Mayor James Brainard; Council President Robert Battreall, Councilors Kevin Kirby, Jim Miller, Norm Rundle Ron Carter, Luci Snyder and Billy Walker. Clerk- Treasurer Diana Cordray, Deputy Clerk Cindy Sheeks and Mike Eckerle of McHale Cook & Welch also attended. The meeting was called to order at 8:27 a.m. The council moved Agenda Item 2c, Presentation on the City Center Bond Issue by Mike Eckerle of McHale Cook & Welch, to the first item on the agenda. Councilor Kirby stated the council wanted Mr. Eckerle, council attorney, to review the bond agreement. Mr. Eckerle introduced himself and stated he had received a proposal (Exhibit A) from Neil Steinbart of Barnes & Thomburg, the Carmel Redevelopment Authority's bond counsel. Councilors discussed Section 3(a) of the proposed agreement. Councilors Miller and Snyder stated they supported the proposal as members of the fiscal body. Several councilors stated their primary concern was the cost of change orders on the project. Councilor Battreall moved to incorporate Mr. Steinbart's proposal into a resolution for the April 6, 1998, council meeting. Councilor Snyder seconded. The motion was approved 6-1. Councilor Walker voted no. Clerk-Treasurer Cordray discussed the progress of the new accounting software and stated the conversion had been a total success. Councilors discussed budget hearings and planned them for the weeks of July 12 and July 19, 1998. Councilors established that the deadline for the Clerk-Treasurer's Office to receive all budgets was June 1, 1998. They stated that the council should receive the budgets from the clerk- treasurer by June 12, 1998. Councilor Battreall moved to delete Agenda Items 3a; International Art Festival and 3c; Council Meetings, Carmel City Code Section 3-12. Councilor Snyder seconded. Jeff Butt, president of the Hamilton County Alliance, spoke about US 31 development and other carrent economic development in Carmel. Mayor Brainard addressed the council regarding several street improvement projects and their ass;ciated costs. (~'~ The meeting was adjourned at 12:45 p.m. Respectfully submitted, Approved, AGREEMENT THIS AGREEMENT, dated as of March 27, 1998 (this "Agreement"), by and between the City of CarmeI Redevelopment Authority, a redevelopment authority organized and existing under Indiana Code 36-7-14.5 (the "Authority"), the City of Carmel Redevelopment Commission, a redevelopment commission organized and existing under Indiana Code 36-7-t4 (the "Commission"), the Common Council of the City of Carmel, Indiana (the "City"), a common council organized and existing under Indiana Code 36-4--6 (the "Council"), and the Mayor of the City ("Mayor"), joined in by the Clerk-Treasurer of the City (the "Clerk-Treasurer"): WtTNESSETH THAT: WHEREAS, on September 4, 1997, the Authority issued the City of Carmel Redevelopment Authority (City of Carmel. Indiana) County Option Income Tax 'Lease Rental Revenue Bonds of 1997, in an aggregate principal amount of $32,000,000 (the "Bonds"), pursuant to India,ma Code Sections 5-1-3, 36-7-12, 36-7-1¢.5 and 36-7-25 and Resolution No. 8-5-19~-01 adopted by the Authority on August 5, 1997, (the "Resolution'); and WHEREAS, the Commission has leased the Leased Premises financed by the Bonds; and WHEREAS, the parties hereto desire, by this Agreement, to provide procedures for the approval of certain future expenditures of Bond proceeds; NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the pa.r-cies hereto hereby agree as foIlows: Section i. Contract Apr~rovals. From and after the date hereof, the Authority shall approve all agreements or contracts, and change orders to any such agreements or contracts or to ~reements or contracts entered into prior to the dare hereof, for the expenditure of Proceeds (singIy or together hereafter referred to as ~contracts~ or "change orders'), and shall conduct ali bid proceedings, if required by applicable law, with respect thereto. Section 2. Expenditures. From and after the date hereof, the Authority shall not enter into and execute any contract nor award any bid for a contract, or issue any change order, which conremplai'es or involves any Expenditure (as hereinafier defined), unless such contract (including any award of a bid for a contract) or change order is approved by the Authority, and the Council in accordance with Section 3 thereof. Section 3. Approval. After the Authority approves any proposed contract (including any proposed award of a bid for a contract) or proposed change order for any Expenditure, the Authority shall deliver written notice of irs approval of such proposed contract (or proposed award of bid) or proposed change order to the Clerk-Treasurer, together with instructions to deliver a copy of such notice to each member of the Council by the close of business on the bus/ness day after the Authority's delivery of such notice to the Clerk-Treasurer. If the Authority so delivers such notice and instructions, the Council shall be deemed to have approved such contract (or award of bid) or change order at the close of business on the fifth business day after ',.he date by which the Clerk-Treasurer was so instructed by the Authority to deliver a copy of such notice to each member of the Council (the Effective Date ), unless: (a) by the clo~ of business on the Effective Date, any member of the Council who disputes~,suct~ proposed contract (or proposed award of bid) or proposed change order requests the Clerk-Treasurer place such dispute on the agenda for uhe next meeung ot the Council and Co) at such meetm=, the Council disapproves such proposed contract (or proposed award of bid) or proposed change order by a vote of a majorip' of the elected members of the Council. Section ~-. Definitions. For purposes of this Agreement, each of the following terms shall have the meaning assigned to it by chis Section 4: (al 'Expenditure" means any payment or other disposition of any Proceeds, excluding: (il any payment of principal of or premium, if any, or interest on the Bonds, (ii) any payment of architectural, engineering, accounting, financial advisory,', legal or other professional ~rvices, (iii) an)' payment of any costs of issuance of tho Bonds, (iv) any investment of any Proceeds in any interest-bearing instruments, or (v) any payment(s) or'other disposition(s), whether indMdualIy or in the aggregate if the contracted matter for ,'hich payment(s) or disposition(s) is/are being made is completed in one or more steps or is part of a set or series of related conu-acted matters with a single person or vendor, of any Proceeds in an amount less than $75,000. (b) "Proceeds" means an)' amounts received by the Commission from its original issuance and sale of t.he Bonds, and an.',' interest earnings thereon. Section 5. Amendments. This Agreement may be amended or terminated only by the written agreement of honk of the parties hereto. Section 6. Governing; Law. This Agreement and the rights and obligations hereunder shall be governed by and construed and enforced in accordance with the interne1 laws of the State of Indiana, without reference to any choice of law principles. Section 7. Severabilitv. If any portion of this Agreement is held or deemed to be, or is, invalid, illegal, inoperable or unenforceable, the validity, legality, operability and enforceability of the remaining portions of this Agreemem shall not be affected, and this Agreement shall be construed as of it did not contain such invalid, illegal, inoperable or unenforcegble portion. Section 8. lnter~remtion. The use herein of the singular shall be construed to [nclude the plural, and vice versa. Unless otherwise indicated, the words "hereof," "herein,' "hereby" and "hereunder,' and words of similar import, refer to this Agreement as a whole and not to any particular section, subsection, clause or other portion of this Agreement. Section 9. Cantions. The captions appearing in this Agreement are included herein for convenience of reference only, and shall not be deemed to define, limit or extend the ~cope or intent of any rights or obligations under this Agreement. IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. CITY OF CARMEL REDEVELOPMENT AUTHORITY CITY OF CAR.\IEL REDEVELOPMENT COMMISSION COMMON C0bNCIL OF THE CITY OF CARMEL, INDIANA Printed: Title: MAYO~,, CITY OF CARMEL, INDIANA' ~_m/e~C. Brain r The CleriC-Treasurer herel~y acknowledges and agrees to the procedures set forth in Section 3. CLERK-TREASURER, CITY OF CARMEL, INDIANA ~oet~e,13 AGREEMENT THIS AGREEMENT, dated as of March__, 1998 (this "Agreement"), by and between the City of Carrael Redevelopment Commission, a redevelopment commission organized and existing under Indiana Code 36-7-14 (the "Commission'S), and the Common Council of the City of Cannel, Indiana (the "City"), a common council organized and existing under Indiana Code 36-4-6 (the "Council"); W1TNESSETH THAT: WHEREAS, the Commissionpmposes to issue the City of Carmel, Indiana, Redevelopment District Taxable County Optionlncome Tax Revenue Bonds of 1998 (City. Center Redevelopment Project), in an aggregate principal amount not to exceed $10,500,000 (the "Bonds"), pursuant to Indiana Code Section 36-7-14-25.1 and Resolution No. 4-1998 adopted by the Commission on January 15, 1998 (the "Resolution"); and WHE~, the parties hereto desire, by this Agreement, to provide for certain expendilxnes of certain Bond proceeds; NOW, THEKEFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of width are hereby acknowledged, the parties hereto hereby agree as follows: Section 1. Expeuditur~. The Commission shall not enter into any contract or issue any change order for any Expenditure (as hereinafter defined), unless such contract or change order is approved by the Commission and the Council in accordance with Section 2 thereof. Section 2. An~roval. After the Commission approves any contract or change order for any Expenditure, the Commission shall de~iver wfitteunofiee of its approval of such contract or change order to the clerk-~easurer of the City (the "Clerk-Treasurer"), together v, dth instructions to deliver a copy of such notice to each member of the Council by the close of business on the business day after the Commission's delivery of such notice to the Clerk-Treasurer. if the Comn'fissinn so delivers such notice and i~straefions, the Council shall be deemed to have approved such contract or change order, unless: (a) by the close of business on the fifth business day after the d. ate by which the Clerk-Treasurer was so instructed by the Commission to deliver a copy of such notice to each member of the Council, any member of the Council who disputes such contract or change order requests the Clerk-Treasurexto place such dispute on the agenda for the next meeting of the Council; and (b) at such meeting, the Counell disapproves such contract or change order by a vote of a majority of the elected members of the Council Section 3. Definifion~. For purposes of this Agreement~ each of the following terms shall have the meaning assigned to it by tiffs Section 3: (a) "Expenditure" means any payment or other disposition of any Proceeds, excluding: (i) any payment of prineipal of or premium, if any, or interest on the Bonds, (ii) any payment of architectural, engineering, accounting, financial advisory, legal or other professional services, (iii) any payment of any costs of issuance of the Bonds, (iv) any mvestmentofanyPmeeedsin anyinterest-bearinginstmments, or (v) anypayment or other disposition,whether consummatedin one or more steps, of any Proceeds in an amount less than $75,000. (b) "Proceeds" means any amount~ receivedby the Commission from its issuance and sale of thc Bonds, and any interest earnings thereon. Section4. Amendments. This Agrcementmaybe amendedor terminatedonlybythcwrittan agreement of both of the parties hereto. Section 5. ~. This Agreement and the rights and obligations hereunder shall be governed by and ¢omtmed and enforced in accordance with the internal laws of the State of Indiana, without reference to any choice of law principles. Section 6. Severabili .ty. If any portion of this Agreement is held or deemed to be, or is, invalid, illegal, inoperable or unenforceable, the validity, legality, operability and erfforceability of the remaining portions of this Agreement shall not be affected, and this Agreement shall be construed as of it did not euntain such invalid, illegal, inoperable or unenforceable portion. Section 7. Interpretation. The use herein of the singular shall be constn~ed m include the plural, and vice versa. Unless othcrwlse indicated, the words "hereof," "herein," "hereby" and "hereunder," and words of similar import, refer to this Agreement as a whole and not to any particular section, subsection, clause or other potion of this Agreement. Section 8. Cantions. The captions appearing in this Agreement are included herein for convenience of reference only, and shall not be deemed to define, limit or extend the scope or intent o£any fights or obligations under this Agreement. IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. CITY OF CARMEL REDEVELOPMENT COMMISSION By: ..... Printed: Title: COMMON COUNCIL OF THE CITY OF CARMEL, INDIANA By:_ Printed: Title:. 2 UNAPPROPRIATED CAPITAL FUNDS* AVAILABLE(1998) PROPOSED 12/31/98 BALANCE Lit. & S $2,176,000 $1,876,900 $300,000 MVI-I 966,000 866,000 100,000 CC SEWER 1,650,000 1,500,000 150,000 CCI 526,000 400,000 126,000 CCD 2,740,000 2,250,000 490,000 TOTAL 8,058,000 6,892,900 1,466,300 *This chart does not include the following funds: General, Police and Fire Pension, Debt Service, and Lease Rental PROJECT 1 t6th Street Widening (Range Line to Keystone) 126th/122nd (Adams Connect to Penn) Carmel Dr. Streetscape(Keystone to Range Line) 1998 Sidewalk Program 106th Sidewalk 4th and Main ESTIMATED COST 1,500,000 4,000,000 900,000 200,000 100,000 150,000 TOTAL $6,850,000 NOTES: #The General Fund Balance is projected to be approximately $10,000,000 on 12/31/98. #Our fiscal advisors have indicated that the water utility could appropriately make a one time payment in lieu of taxes of up to $2,000,000 without sacrificing any needed improvements to the utility capital improvment program.