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RESOLUTION NO. /Z - :ZX5-
RESOLUTION OF THE CITY OF CARMEL REDEVELOPMENT COMMISSION
AUTHORIZING THE TRANSFER OF LAND TO THE CITY OF CARMEL
REDEVELOPMENT AUTHORITY IN CONNECTION WITH PERFORMING ARTS
CENTER PROJECT
WHEREAS, the City of Carrel Redevelopment Authority (the "Authority") has been
created pursuant to IC 36-7-14.5 as a separate body corporate and politic, and as an
instrumentality of the City of Carmel, Indiana (the "City") to finance local public improvements
for lease to the City of Cammel Redevelopment Commission (the "Commission"); and
WHEREAS, the Authority on February 22, 2005, adopted a resolution indicating its
intent to issue its lease rental revenue bonds (the "Bonds") to finance the acquisition,
construction, installation and equipping of land, buildings, strictures and improvements
comprising a new performing arts center complex, all of which are to be located at the southeast
comer of City Center Drive and P Avenue S. W. in the City of Carmel, Indiana, on Parcel 7 of
the Carmel City Center Master Plan (the "Project"), and approving a proposed lease (the
"Lease") between the Authority and the Commission for the lease of the Project and the land on
which it is constructed (the "Leased Premises"); and
WHEREAS, on February 22, 2005, the Commission approved the Lease, and following a
public hearing regarding the Lease held on March 15, 2005, the Commission authorized the
execution of the Lease, which Lease was executed by the Authority and the Commission on July
12, 2005; and
WHEREAS, in order to facilitate the Lease of the Leased Premises, the Commission now
desires to authorize the transfer to the Authority of the land upon which all or a portion of the
Project will be constructed;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF CARMEL
REDEVELOPMENT COMMISSION AS FOLLOWS:
1. The Commission is hereby authorized to convey to the Authority for a nominal
consideration existing land owned by the Commission upon which all or a portion of the Project
will be constructed.
2, The President, Vice President and Secretary of this Commission, and each of them,
is hereby authorized and directed to take all such further actions and to execute all such deeds
and other instruments as are desirable to carry out the transactions contemplated by this
Resolution, in such forms as the President, Vice President or Secretary executing the same shall
deem proper, such desirability to be conclusively evidenced by the execution thereof.
3. This Resolution shall be in full force and effect after adoption by the Commission.
DULY PASSED on this 15th day of November, 2005, by the City of Carmel
Redevelopment Commission.
CITY OF CARMEL
REDEVELOPMENT COMMISSION
Member
IN SH SDD 804933v1
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