HomeMy WebLinkAbout1979-R-09 RESOLUTION OF
JEFFERSONVILLE COMMON COUNCIL
JEFFERSONVILLE, INDIANA
WHEREAS, the City of Jeffersonville, Indiana (the "City")
is authorized by I.C. 1971, 18-6-4.5 (the "Act") to issue revenue
bonds 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 leased to
other persons; and
WHEREAS, George Neumeister has advised the City that he proposes
that the City acquire, construct and equip an economic development
facility and lease the same to said economic development facility to
be located at 10th and Nachand Streets in Jeffersonville, Indiana to
consist of approximately 11,000 square feet (the "Project"); and
WHEREAS, George Neumeister has further advised the City that a
determination by the City to issue its revenue bonds under the Act
to finance the acquisition, construction and equipping of the project
under contractual arrangements whereby the City would lease the Project
to George Neumeister and George Neumeister would make rental payments
sufficient to pay the principal of, premium, if any, and interest on
such bonds, will constitute a substantial inducement to George Neumeister
to proceed with the acquisition of the Project and George Neumeister
has agreed to pay or reimburse the costs of the City, including attorneys
fees, whether or not such Bonds are issued; and
WHEREAS, the diversification of industry and increase in job
opportunity to be achieved by the acquisition, construction and equipping
of the Project will be of public benefit to the health, safety and
general welfare of the City and its inhabitants; and
WHEREAS, subject to all required approvals under the Act and the
advice of the Jeffersonville Economic Development Commission, it would
appear that the financing of the project would be of public benefit
to the health, safety and general welfare of the City:
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City
of Jeffersonville:
1, The Common Council finds and determines that the promotion
of diversification of industry and job opportunities in Jeffersonville,
Indiana, is desirable to preserve the health~ safety and general welfare
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of the inhabita~ts of the City of JefferSonville; and that it is
in the public interest that the City take such action as it lawfully
may to encourage diversification of industry and promotion of job
opportunities in said City.
2. The Common Council further'finds and determines that the
issuance and sale of revenue bonds of the City under the Act in
the amount of $400,000 for the acquisition, construction and equipping
of the project and the leasing of the project to George Neumeister
will serve the public purposes referred to above, in accordance with
the Act.
3. In order to induce George Neumeister to proceed with nego-
tiations for the acquisition, construction and equipping of the
Project, the Common Council hereby determines that (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 George Neumesiter; (ii) it will adopt such ordinances and
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, subject to the City obtaining all approvals as may be required
under the Act, including the advice of the Jeffersonville Economic
Development Commission.
4. Ail costs of the Project incurred after this resolution,
including reimbursement or repayment to the Company of moneys expended
by George Neumeister 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 lease the same to George Neumeister.
Adopted Mmy 7, 1979.
Attest:
Dick Spence?~
City of Jeffersonville
Mayor Vis~ng