HomeMy WebLinkAbout1988-OR-25 ORDINANCE NO. 88-OR-g
ORDINANCE JOINTLY EXERCISING OPTION TO PURCHASE
CITY-COUNTY BUILDING WITH THE COUNTY OF CLARK
WHEREAS, the County Commissioners of Clark County have
petitioned the Common Council of the City of jeffersonville to
jointly exercise their option to purchase the City-County
Building pursuant to ~6.02 under the City-County Building Lease
executed the llth day of March, 1968; and
WHEREAS, the Common Council of the City of jeffersonville
deems that it is in the City's best interest for elected public
officials to have direct accountability for expenditures made
in operating the City-County Building; and
WHEREAS, the Building Authority at its regular meeting on
June 15, 1988, denied the joint request by the city and County
to be appointed as operating agent thereby making purchase of
the building the only feasible method of being in control of
financial responsibility therefor; and
WHEREAS, financial advisors employed jointly by the City
and County have indicated that it is economically feasible and
desirable for the City and County to redeem the existing
indebtedness on the building and to purchase the City-County
Building on January 1, 1989, which purchase requires notice no
later than June 20, 1988.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of
the City of jeffersonville that it hereby agrees to join in
Clark County's exercise of the option to purchase the
City-County Building pursuant to §6.02 of the City-County
Building Lease. Notice of the exercise of this option to
purchase shall be given no later than June 20, 1988, and
Council President Perkins is hereby directed to execute any
document necessary to notify the Building Authority of the
joint exercise of the option to purchase by the City of
jeffersonvilie and the County of Clark. It is further
understood that between the County of Clark and the city of
Jeffersonville that an interlocal agreement shall be negotiated
on agreeable terms for the exercise of this building subsequent
to its purchase, and the city of
relinquishes A its rights which currently exist under the
City-County Building Lease and that any interlocal agreement
City and county shall not operate to
of the City as now exist under the
upon
negotiated between the
prejudice such rights
original lease.
This ordinance shall be in full force and effect
its timely passage, promulgation and approval by the
Mayor ·
Passed and adopted by the Common council of the city of
jeffersonville, Clark County, Indiana, on the / ~.- day of
ATTEST:
CLERK-TREASUREP~
presented by me as Clerk-Treasurer to the Mayor of said
City of jeffersonville this f~_da¥ of ~'
1988.
This ordinance
day of~
C. R~CHARD SPENCEr, JR.
CLERK-TREASURER
approved and signed by me this
1988 ·