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HomeMy WebLinkAboutCC-06-01-09-02 Defining Conditions for $20ml Note/Keystone ProjectSPONSOR(S): Councilor(s) Accetturo, Seidensticker, Sharp and Snyder RESOLUTION CC-06-01-09-02 (FORMERLY CC-05-18-09-02) A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF CARMEL, INDIANA, ESTABLISHING AND DEFINING THE CONDITION FOR THE $20,000,000 INTERIM LOAN FOR THE KEYSTONE AVENUE PROJECT WHEREAS, the Carmel City Council (the "Council") adopted Ordinance D-1934-09 As Amended onApril 20`h, 2009, which established the interim loan to finance portions of the Keystone Avenue Project; and WHEREAS, the Council adopted Ordinance D-1921-08 on February 16, 2009, Section 1(a) which defined the conditions for the use of the interim loan of the $20,000,000 note; NOW, THEREFORE, BE IT RESOLVED,by the Common Council of the City of Carmel, Indiana, as follows: Section 1. That the definition for intersection improvements as defined in D-1921-08 shall include only the following: (1) purchase of right of way (2) construction (3) engineering fees for the construction and (4) inspection fees for the project. Section 2. Additional Services for the project (in part or in sum) in excess of $49,999 shall require Common Council approval prior to any action on the part of the City. Section 3. This Resolution shall be in full force and effect from and after its adoption and signing by the Common Council and the Mayor. PASSED by the Common Council of the City of Carmel, Indiana this lS+ day of 2009, by a vote of I- ayes and 0 nays. COMMON COUNCIL FOR THE CITY OF CARMEL 4 /F=? a - Pre ding Officer W. Eric Seid nsticker, Presid ro Tempore lb b.. Accetturo ??Zig!? Ronald E. Carter ATTEST: _ Diana L. Cordray,IAMC, Clerk- easurer U Md. Presented by me to the Mayor of the City of Carmel, Indiana this C day of 2009, at 7:90 A.M. Diana L. Cordray, IAMC, Clerl reasurer Approved by me, Mayor of the City of Carmel, Indiana, this y of dole 2009, at ? /:;M. Ja es Brainard, Mayor ATTEST: Diana L. Cordray, PREPARED BY: Diana L. Cordray U Clerk-Treasurer City of Cannel, Indiana