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Home My WebLink AboutD-2725-24 Consent to Use of 96st-US 421 TIF Revenue SPONSOR: COUNCILOR TAYLOR This Ordinance prepared by Zachary E. Klutz, Taft Stettinius & Hollister LLP, as bond counsel, to Hamilton County, Indiana. Submitted to the City of Carmel, Indiana on July 26, 2024. ORDINANCE NO. D-2725-24 AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF CARMEL, INDIANA, CONSENTING TO HAMILTON COUNTY, INDIANA’S USE OF ALLOCATED PROPERTY TAX PROCEEDS FROM THE 96TH STREET-U.S. 421 ALLOCATION AREA TO THE PAYMENT OF BONDS OR LEASE RENTALS USED FOR FINANCING A PUBLIC SAFETY TRAINING FACILITY Synopsis: Ordinance consents to Hamilton County’s issuance of bonds or entering into a lease either of which may be payable from allocated property tax proceeds arising from the 96th Street-U.S. 421 Economic Development Area and the 96th Street-U.S. 421 Allocation Area, which bonds or lease will assist with financing the design, development, construction and equipping of a Public Safety Training Facility intended to provide municipal Police & Fire Departments within Hamilton County, Indiana a facility and structures for the purpose of providing education and training resources to allow public safety officers to better protect and serve residents within the territories and districts they serve. WHEREAS, the City of Carmel, Indiana (the “City”) is a municipal corporation and political subdivision of the State of Indiana and the Common Council (the “Council”) serves as the legislative body of the City; WHEREAS, the Hamilton County Redevelopment Commission (the “Commission”), the governing body of the Hamilton County Redevelopment District (the “District”) of Hamilton County, Indiana (the “County”), exists and operates under the provisions of Indiana Code 36-7- 14, as amended from time to time (the “Act”); and WHEREAS, the Commission, pursuant to declaratory resolutions adopted February 25, 2000 and confirmed by the Commission on October 5, 2000, created and established the 96th Street-U.S. 421 Economic Development Area and the 96th Street-U.S. 421 Allocation Area therein (the “Allocation Area”) for purposes of the allocation and distribution of property taxes under Indiana Code 36-7-14-39; and WHEREAS, effective June 27, 2010, the City annexed an area of land within an unincorporated area of the County into the incorporated boundaries of the City which land included all of the Allocation Area previously established by the Commission (the “City Annexation”); WHEREAS, the County, by and through the Hamilton County, Indiana Public Building Corporation (“Building Corporation”), the Commission, or the Hamilton County Redevelopment Authority (“Authority”), desires to authorize the issuance of Lease Rental Revenue Bonds, Series 2024B (Public Safety Training Facility Project), for the purpose of, among other things, financing all or a portion of the design, development, construction and equipping of a Public Safety Training Facility to be located within the County (the “Public Safety Training Facility Project”); and Ordinance D-2725-24 Page One of Three Docusign Envelope ID: 194BAF4B-25A5-4111-BB84-D169206271CE SPONSOR: COUNCILOR TAYLOR This Ordinance prepared by Zachary E. Klutz, Taft Stettinius & Hollister LLP, as bond counsel, to Hamilton County, Indiana. Submitted to the City of Carmel, Indiana on July 26, 2024. WHEREAS, the County and Commission desire to utilize tax increment revenues from the Allocation Area (the “Pledged 96th-421 TIF Revenues”) to the payment of debt service on bonds (the “Bonds”) or to lease rental payments arising under a lease agreement (the “Lease”), utilized for financing the Public Safety Training Facility Project; and WHEREAS, as a result of the City Annexation, Indiana Code 36-7-14-3.5 prohibits the Commission from issuing bonds or entering into leases that are payable from allocated property tax proceeds from the part of an allocation area annexed or included in such annexation unless the legislative body of the applicable municipality adopts an ordinance approving the issuance of the bonds or the entering of a lease and the use of allocated property tax proceeds from such allocation area. NOW THEREFORE BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF CARMEL, INDIANA, THAT: Section 1. Approval of Lease or Bonds; Consent to Use of 96th-421 TIF Revenues. The Common Council hereby approves the Bonds or Lease required by the County, the Building Corporation, the Authority or Commission for financing the Public Safety Training Facility Project, and (ii) the Commission’s use of the Pledged 96th-421 TIF Revenues arising from the Allocation Area to the payment of debt service on the Bonds or to lease rentals payable under the Lease. Section 2. Severability. If any section, paragraph or provision of this ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or unenforcability of such section; paragraph or provision shall not affect any of the remaining provisions of this ordinance. Section 3. Repeal of Conflicting Provisions. All ordinances, or parts thereof, in conflict with the provisions of this ordinance, are, to the extent of such conflict, hereby repealed or amended. Section 4. Effective Date. This ordinance shall be in full force and effect immediately upon its adoption in accordance with the procedures required by applicable law. * * * * * * Ordinance D-2725-24 Page Two of Three Docusign Envelope ID: 194BAF4B-25A5-4111-BB84-D169206271CE SPONSOR: COUNCILOR TAYLOR This Ordinance prepared by Zachary E. Klutz, Taft Stettinius & Hollister LLP, as bond counsel, to Hamilton County, Indiana. Submitted to the City of Carmel, Indiana on July 26, 2024. Passed by the Common Council of the City of Carmel, Indiana, on this ___ day of August, 2024, by a vote of ______ ayes and ______ nays. COMMON COUNCIL FOR THE CITY OF CARMEL, INDIANA _________________________________ ___________________________________ Anthony Green, President Adam Aasen, Vice-President _________________________________ ___________________________________ Jeff Worrell Teresa Ayers _________________________________ ___________________________________ Anita Joshi Shannon Minnaar _________________________________ ___________________________________ Ryan Locke Matt Snyder _________________________________ Rich Taylor ATTEST: ________________________________ Jacob Quinn, Clerk Presented by me to the Mayor of the City of Carmel, Indiana this day of _______, 2024, at o'clock .m. ____________________________________ Jacob Quinn, Clerk Approved by me, Mayor of the City of Carmel, Indiana, this day of _______, 2024, at o'clock .m. ____________________________________ Sue Finkam, Mayor ATTEST: _________________________________ Jacob Quinn, Clerk Ordinance D-2725-24 Page Three of Three Docusign Envelope ID: 194BAF4B-25A5-4111-BB84-D169206271CE a a11:30 8 August6th Not Present 11:15 0 August6th 5th