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HomeMy WebLinkAbout1988-R-18 RESOLUTION NO. 88-R-~, RESOLUTION IN SUPPORT OF COOPERATING WITH COUNTY OF CLARK IN JOINTLY DISSOLVING THE JEFFER$ONVILLE-CLARK cOUNTY BUILDING AUTHORITY WHEREAS, the Common Council of the City of jeffersonville is desirous of minimizing the expense incurred in providing municipal offices for the operations of jeffersonville City Government; and WHEREAS, the County of clark has brought it to the attention of the jeffersonville City Council that it is necessary to expand the Clark county jail to comply with federal guidelines, which expansion will necessitate additional funding for the project; and WHEREAS, it is believed that it will be necessary to refinance and/or defease the bonds currently in place financing the city-County Building; and WHEREAS, such refinancing and/or defeasement will require dissolution of the City-County Building Authority; and wHEREAS, all of the above is deemed to be in the best interest of the City of jeffersonville. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of jeffersonville that it hereby: 1. Pledges to cooperate with the County of Clark in efforts to refinance and/or defease the bonded indebtedness currently in place on the existing structure so long as such action is under, terms and conditions which are economically advantageous to the City of jeffersonville. 2. That towards such ends the City of jeffersonville hereby consentS to authorize Barnes & Thornburg, Attorneys At Law, and springsted, Public Finance Advisors, and to act on its behalf at this time, and until it appears that it is advantageous for the City of jeffersonville to retain its own bond counsel and/or financial advisor. 3. That should the opinion of the professional advisors retained hereinabove or otherwise reflect that it is economically advantageous for the City of jeffersonville to take legislative action necessary to dissolve the City-County Building Authority in order to refinance or defease existing debt on the city-County Building, support is hereby given for the adoption of any legislation necessary as such situation becomes evident and the Clark County Council indicates similar support for such legislation. Passed and adopted this 1988, by the Common Council of the City of jeffersonville, Clark County, Indiana. ATTEST: CLERK-TREASURERu Presented by me as city of jeffersonville, Clerk-Treasurer to the Mayor of the Indiana, this /~ day of Approved and signed by me this /~ day of , 1988.