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Home My WebLink AboutD-1563-02 FAILED 1-. _ - Sponsor: Council President Wilson ORDINANCE NO. D-1563-02 AN ORDINANCE OF THE CITY OF CARMEL, INDIANA, APPROPRIATING THE PROCEEDS (TOGETHER WITH INVE l'MENT EARNINGS THEREON) DERIVED FROM THE SALE 0 BONDS HERETOFORE AUTHORIZED TO BE ISSUED AND DES NATED AS "CITY OF CARMEL, INDIANA, COUNTY OPTION COME TAX REVENUE BONDS OF 2002," FOR THE PURPOSE OF NANCING THE COSTS OF THE ACQUISITION, CONSTRUCTIO , INSTALLATION AND EQUIPPING OF A MOTOR VEHICLE FL T MAINTENANCE FACILITY AND SALT BARNS FOR THE ST T DEPARTMENT OF THE CITY AND ROAD AND INTERSE ION IMPROVEMENTS WITHIN THE CITY, TOGETHER WIT COSTS AND EXPENSES INCIDENTAL THERETO, ~DlNG OSTS AND EXPENSES IN CONNECTION WITH THE ~~l.CE THE BONDS. WHEREAS, th, \:J~b 'W~ Sof"y (th, "Bo"",")ofth' Ci" of Carmel, Indiana (the "City"), h~eviou y~~ a Resolution, finding that a need exists for the acquisition, consjti n, 1 tallaf n ~~ing of any or all or any portion of (i) a motor vehicle fleet mainterce' fa ility n~~alt barns for the Street Department of the City and (ii) certain local roa d int rse'i~~rovements in the City, together with storm sewer, drainage and other infras cture impJements related thereto, as more particularly described in Exhibit A attached her o&llectivelY, the "Project"), presenting its Estimate and Request, and recommending the i su~ of county option income tax revenue bonds for such purpose to the Common Counci of ~ty; and . HE~S, the Project and the financing of the Project by the City, together with costs and e pen~ncidental thereto, are necessary and are authorized by Indiana Code 36-9-2-5 md Indi '~6-3.5-6 "" will '" of g'""" "'"fi'1O th, Ci" "" i" citm"; <od INIMANI579415vl WHEREAS, the City has insufficient funds available or provided for in the existing budgets or tax levies that may be applied to the costs of the Project, together with costs and expenses incidental thereto, including costs and expenses in connection with the issuance of the bonds, and the issuance of such bonds of the City in an amount not to exceed Eight Million Eight Hundred Thousand Dollars ($8,800,000) to finance the costs of the Project, together with costs and expenses incidental thereto, including costs and expenses in connection with the issuance of the bonds, has been heretofore authorized to procure the necessary funds and an extraordinary emergency and necessity exist for the making of the additional appropriation set out herein; and WHEREAS, the proceeds of such bonds of the City have not been included in any regular budget; and WHEREAS, notice of a hearing on such appropriation has been published as required by law and such public hearing was held on such appropriation at which all taxpayers and interested persons had an opportunity to appear and express their views as to such additional appropriation; NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF CARMEL, INDIANA, as follows: SECTION 1. The proceeds derived from the sale of the bonds heretofore authorized to be issued and designated as "City of Carmel, Indiana, County Option Income Tax Revenue Bonds of 2002" in an aggregate principal amount not to exceed Eight Million Eight Hundred Thousand Dollars ($8,800,000), together with investment earnings thereon, shall be and the same are hereby appropriated to provide financing for any or all or any portion of the costs of the Project, together with costs and expenses incidental thereto, including costs and expenses in -2- INIMANI579415vl c, connection with the issuance of the bonds. The financing of the Project, together with costs and expenses incidental thereto, including costs and expenses in connection with the issuance of bonds to provide therefor, is being undertaken pursuant to the recommendation of the Board. Such appropriation shall be in addition to all appropriations provided for in the existing budget and levy, and shall continue in effect until the payment of the costs of the Project, together with costs and expenses incidental thereto, including costs and expenses in connection with the issuance of bonds to provide therefor. Any surplus of such proceeds shall be credited to the proper fund as required by law. SECTION 2. A certified copy of this Ordinance shall be filed by the Clerk- Treasurer of the City with the Indiana Department of Local Government Finance in accordance with Indiana Code 6-I.l-18-5. SECTION 3. This Ordinance shall be in full force and effect from and upon compliance with the procedures required by law. . . . -3- lNIMAN1579415vl d~y of PASSED by the Common Council of the City of Carmel, Indiana, this ,2002. COMMON COUNCIL OF THE CITY OF CARMEL Presiding Officer Kevin Kirby Wayne Wilson, President Pro Tempore John Koven Robert Battreall N. 1. Rundle Luci Snyder Ronald E. Carter ATTEST: Diana 1. Cordray, Clerk-Treasurer of Presented by me to the Mayor of the City of Carmel, Indiana, on this _ day , 2002, at _ o'clock _.m. Diana 1. Cordray, Clerk-Treasurer Approved by me, Mayor of the City of Carmel, Indiana, this _ day of , 2002, at o'clock .m. James Brainard, Mayor ATTEST: Diana 1. Cordray, Clerk-Treasurer -4- INIMAN1579415v1 .' ~ . Sponsor: Council President Wilson EXffiBIT A DESCRIPTIONS OF THE ROAD AND INTERSECTION PROJECTS Old Town Improvement (SW Ouadrant) Includes Construction & Engineering (no land costs): . Road and infrastructure improvements (roads, storm sewers, sidewalks, street .lights, etc. similar to previous Old Town improvements) including the following street sections: . 15' Street SW from 4th Avenue SW to Range Line Road, 1400' total reconstruction with sidewalk on the north for full length & on the south from 2nd Avenue SW to Range Line Road . 3rd Avenue SW from 1st Street SW to West Main 300' total reconstruction with sidewalk on the west . 1st Avenue SW from 1st Street SW to West Main 300' mill and overlay with sidewalk on one side 106th & Grav Road Intersection Improvement Includes Construction, Land & Engineering: . Intersection improvement assumes little or no land costs. Grav Road Improvements Includes Construction, Land & Engineering: . Correction South of Woodfield Drive - removal of crest in road profile elevation to increase safety and visibility for Gray Road and subdivision entrances. . Correction at Northern Kingwood ingress/egress - removal of crest in road profile elevation to increase safety and visibility for Gray Road and subdivision entrances. Rangeline Road Improvements Includes Construction & Engineering: . From II 6th Street to 126th Street - The length of this project is about 1/3 mile. Upgraded signal at Medical Drive with lighting and other features to tie this portion of Rangeline into recent improvements on Carmel Drive and 126th Street and future improvements at 116th Street and Rangeline Road. . Also includes 136'h Street and Rangeline Road New Signal - may involve removal of building(s), but intersection needs to be upgraded and widened to accommodate turning movements. A-I INIMANl579415vl ~-... , Sponsor: Council President Wilson Springmill Road Intersection Improvements Includes Construction, Land & Engineering: . Includes intersection improvements at Springmill and 13 1st Street and at Springmill and 136th Street. . Carmel Drive Improvements (Phase II) Includes Construction, Land & Engineering: . Includes the next phase of road and streetscape improvements from Rangeline Road west to the 3rd Avenue SW. This is approximately 1/2 the length of the first phase, and includes a new signal at 3'd Avenue SW. This project includes curbs, drainage and lighting and a separated pedestrian crossing for the Monon. . Prepared by Thomas A. Pitman, Baker & Daniels, 600 East 96th Street, Suite 600, Indianapolis, Indiana 46240, 317-569-4649. A-2 INIMANI 579415vl