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RESOLUTION NO. 23-2006
A RESOLUTION APPROPRIATING THE PROCEEDS
OF GOLF COURSE REVENUE BONDS AND/OR
BOND ANTICIPATION NOTES OF THE CITY OF
CARMEL REDEVELOPMENT DISTRICT
WHEREAS, within the City of Carmel, Indiana, a governmental unit and political
subdivision of the State (the "City"), there is created the City of Carmel Redevelopment District
(the "District"), governed by the City of Carmel Redevelopment Commission (the
"Commission"); and
WHEREAS, the Commission on December 19, 2006, adopted its Resolution 19-2006
determining to issue golf course revenue bonds (the "Bonds") and/or bond anticipation notes (the
"BANS") of the District, each in an original aggregate principal amount not to exceed Two
Million Nine Hundred Ninety-Five Thousand Dollars ($2,995,000) (the "Authorized Amount")
for the purpose of providing for the payment of costs of acquiring the real estate commonly
known as the Brookshire Golf,Clublocated in the-District (the "Project" );_and
WHEREAS, the Commission did not include the proceeds of the Bonds and/or BANS in
the regular budget for the year 2006; and
WHEREAS, there are insufficient funds available.or provided for in the existing budget
and tax levy which may be applied to the cost of the Project, and the issuance of the Bonds
and/or BANS has been authorized to procure the necessary funds and an extraordinary
emergency and necessity exists for the making of the additional appropriation set out herein; and
WHEREAS, the Commission, governing body of the District, has caused notice of a
hearing on the appropriation to be.published as required by law; and
WHEREAS, such public hearing was held on December 22, 2006, at 8:15 a.m. (local
time) in the offices of the City Hall Caucus Rooms, located at One Civic Square, Carmel,
Indiana, on the appropriation at which all taxpayers and interested persons had an opportunity to
appear and express their views regarding the additional appropriation.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF CARMEL
REDEVELOPMENT COMMISSION, GOVERNING BODY OF THE DISTRICT, AS
FOLLOWS:
Section 1. The Commission hereby appropriates a sum not to exceed Two Million
Nine Hundred Ninety-Five Tbousand Dollars ($2,995,000) out of the proceeds of the Bonds
and/or BANS, together with all investment earnings thereon, for the use of the Commission in
paying the costs of the.Project.
Section 2. Such appropriation. shall be in. addition to all appropriations provided for
in the existing budget and levy, and shall continue in effect until the completion of the Project.
Any surplus of such proceeds shall be credited to the proper fund as provided by law.
Section 3. All actions previously taken by the Commission in connection with such
appropriation, including publication of the notice of the public hearing, be, and hereby are,
ratified and approved.
Section 4. A certified copy of this resolution, together with such other proceedings
and actions as may be necessary, shall be filed by the Commission, along with. a report of the
appropriation, with the Department of Local Government Finance.
Adopted this 22nd day of December, 2006.
CITY OF CARMEL REDEVELOPMENT
COMMISSION
Vice
Seca ary {?
Member
Member
CERTIFICATE TO CLERK-TREASURER OF CITY OF CARMEL, INDIANA
This is to certify that attached is a.true copy of Resolution No. /,3 --?766 6 adopted by the
City of Carmel Redevelopment Commission at a meeting held December 22, 2006.
Secretary, City of Ca el Redevelopment
Commission
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