HomeMy WebLinkAboutCC-04-21-08-02 TIF Refunding Bond-$14,000,000Sponsors: Councilors Carter and Sharp
RESOLUTION CC-04-21-08-02
AS AMENDED
A RESOLUTION OF THE.COMMON COUNCIL OF THE CITY
OF CARMEL, INDIANA, APPROVING ISSUANCE OF BONDS
OF THE CITY OF CARMEL REDEVELOPMENT DISTRICT
WHEREAS, the City of Carmel Redevelopment Commission (the "Commission") on
March 18, 2008, adopted its Resolution No. 2008-2 authorizing the issuance of the "City of
Carmel, Indiana, Redevelopment District Taxable Tax Increment Revenue Refunding Bonds,
Series 2008 A" (the "Bonds") in an aggregate principal amount not to exceed $14,000,000 (the
"Bonds"), for the purpose of refunding in full certain bond anticipation notes previously issued
by the Commission; and
WHEREAS, the sole use of the proceeds of the Bonds will be to refund in full
outstanding bond anticipation notes and to pay costs of issuing the Bonds, and no new projects
will be financed with proceeds of the Bonds; and
WHEREAS, the Common Council of the City now desires to approve the issuance of the
Bonds as required under Indiana Code 36-7-14-25.1(p);
NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE
CITY OF CARMEL, INDIANA that:
Section 1. The Common Council hereby approves of the issuance of the Bonds in an
aggregate principal amount not to exceed $14,000,000, pursuant to Indiana Code 36-7-14-
25.1(p).
Section 2. This Resolution shall be in full force and effect from and after its passage
by the Common Council and approval by the Mayor as required by law.
D by the Common Council the
2008, by a vote of _-7 ayes and
?
-4-
City of Carmel, this 4-!S ---day of
_ nays.
VERSION A 4/21/08
ATTFST:
Diana`L. Cordray;lAMC, CI'e c Treasurer.
na /?
Presented by inc'to the.Mayor of the City.of Carmel this,-Z day+of, l l 1 , 2008;
ATS,2 4;m.
Diana L, Cordiray IAMC; Clerl reasurer
Ap roved by me, Mayor of the City of Carmel, Indiana, tliis c2Cs? dayn of
2008, at Q 6-7 P.M.
A
Diana L. Cordray,
Prepared -by: l3mce:D_ Donaldson
Barnes & Thornburg LLP
11 South Meridian,8treet
Indianapolis, fN46204
7 nes Brainard, Mayor
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