HomeMy WebLinkAbout1980-R-16 O. '
m authorized by I.C. 18-6-4.5 (the Act ) to issue evenue bon s
for the financing of economic development facilities, the funds from
said financing to be used for the acquisition, construction and equipping
of said facilities, and said facilities to be either leased to another
person or directly owned by another person; and
WHEREAS, Hap's Aerial Enterprises, Inc., an Indiana
Corporation (the "Company") has advised the Jeffersonville Economic
Development Commission and the City that it proposes that the City
loan proceeds of an economic development financing to the Company
for the same, said economic development facility to be located at
the new Clark County Airport, and to consist of an office, shop hangar,
and approximately 50 T-Hangars; and
WHEREAS, the diversification of industry and increase in job
opportunities and payroll to be achieved by this Project will be of
public benefit to the health, safety and general welfare of the City of
Jeffersonville, and its citizens; and
WHEREAS, it would appear that the financing of this Project
would be of public benefit to the health, safety and general welfare
of the City of Jeffersonville and its citizens; and
WHEREAS, the Project will not have an adverse competitive
effect on any similar facility already constructed or operating in or
near Jeffersonville, Indiana; and
WHEREAS, the Jeffersonville Economic Development Commission
has approved the financing of this Project by the City by executing an
Inducement Resolution and a Report whi. ch urges the City to enter into
the necessary agreements to issue the proposed bonds;
NOW, THEREFORE, BE IT RESOLVED by the Common Council
of the City of Jeffersonville, Indiana:
1. It finds and determines that the promotion
of diversification of industry, job opportunities and
payroll in and near Jeffersonville, Indiana is desirable
to preserve the health, safety and general welfare of
the citizens of the City of Jeffersonville; and that it is
in the public interest that this Council take such action
as it lawfully may to encourage diversification of industry
and promotion of job opportunities in and near said
City.
2. It further finds and determines that the
issuance and sale of revenue bonds of the City under the
Act in an approximate amount of up to $1,000,000.00
for this Project and the loan of the proceeds of the
revenue bonds to the Company will serve the public
purposes referred to above, in accordance with the Act.
-2-
3. In order to induce the Company and to
proceed with this Project, this Council hereby deter-
mines (i) it will take or cause to'be taken such
actions pursuant to the Act as may be required to
implement the aforesaid financing, or as it may deem
appropriate in pursuance thereof; provided that all
of the foregoing shall be as authorized by law and is
mutually acceptable to the City and the Company;
(ii) it will adopt such resolutions and authorize the
execution and delivery of such instruments and the
taking of such action as may be necessary and
advisable for the authorization, issuance and sale of
said economic development bonds.
4. All costs of the Project incurred after
this resolution, including reimbursement or repay-
ment to the Company for moneys expended by the
Company for planning, engineering, interest paid
during construction, underwriting expenses, attorney
and bond counsel fees, acquisition, Construction and
equipping of the Project, will be permitted to be
included as part of the bond issue to finance said
Project, and the City will thereafter loan the proceeds
of the revenue bonds to the Company for the .project.
-3-
, 1980.
COMMON COUNCIL