HomeMy WebLinkAboutCRC-12-07-09 CRC Meeting December 7, 2009
CARMEL REDEVELOPMENT COMMISSION Meeting, Monday,
December 7, 2009
President Ron Carter called the meeting to order at 5:00 p.m. Commission members Bill
Hammer and Tom Crowley were present, constituting a quorum. Also present were Les
Olds, Sherry Mielke, Andrea Stumpf, Don Cleveland and Matt Worthley.
Others present:
Bruce Donaldson, Loren Matthes, Kevin Rider, Winston Long, Jim Mullets and Bryan
Mitchell
The Pledge of Allegiance was said.
Public Hearing on Lease
Mr. Donaldson, Bond Counsel with Barnes Thornburg, explained the necessity for the
public hearing regarding the Lease Rental Revenue Bonds re: Keystone Avenue,
Refunding of the Golf Course BAN, Southwest Clay projects and other drainage projects.
An ordinance regarding this financing was initiated by the City Council and has been
reviewed in their Finance committee. The ordinance was in front of the City Council for
approval later that evening.
The Public Hearing was opened at 5:03 p.m. No one was present to speak in favor of or
in opposition of the Lease Rental Revenue Bond. The Public Hearing was closed at 5:04
p.m.
Resolution 2009 -9 Lease Rental Revenue Bonds
Mr. Donaldson explained the financing of the COIT lease revenue rental bonds. The rate
on the bonds is the same as the City's rate for COIT.
Loren Matthes, Financial Advisor from HJ Umbaugh, was present to explain the bond
rating, payment schedule and current interest rates.
Mr. Hammer moved for approval of Resolution 2009 -9: Lease Revenue Rental Bonds
regarding Keystone Avenue, refunding of Golf Course BAN, Southwest Clay projects
and other drainage projects. Seconded by Mr. Crowley and unanimously approved.
Old Business
No old business at this time.
New Business
No new business at this time.
Adjournment
Mr. Hammer moved the meeting be adjourned and seconded by Mr. Crowley. The
meeting was adjourned at 5:13 p.m.
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