HomeMy WebLinkAbout1979-OR-18% ~- JEFFERSONVILLE~ 3MMON COUNCIL
JULY 2, 1979
An Ordinance of the City of
Jeffersonville, Indiana authorizing the
expansion, construction and leasing of
commercial facilities, the issuance of
economic development revenue bonds to
pay the cost thereof, the safeguarding
of the interests of the holders of said
bonds, approving and authorizing a lease
and a trust indenture and other matters
relating thereto.
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 requested the City to issue
and sell bonds for the purpose of financing the construction of
certain economic development facility additions and the lease
1971, 18-6-4.5,
and Nachand in
thereof to the Company, all pursuant to I.C.
said facilities to be located at 10 th Street
the City of Jeffersonville in Clark County; and
WHEREAS, the Secretary of Jeffersonville Economic
Development Commission has transmitted to this Council: (1) a
Report on Financing for the Construction of Economic
Development Facilities for George Neumeister, adopted by said
Commission on April 17,~1979; (2) a letter dated -~ ,
1979, from the Jeffers~ville City Plan Commission to the
Jeffersonville Economic Development Commission stating that the
proposed facilities are consistent with the Master Plan of the
' t
City and recommending establlshmen of the facilities; and (3)
a copy, certified by the Secretary of said Commission, of a
Resolution adopted by said Commission (i) finding that the
proposed financing complies with the purposes and provisions of
I.C. 1971, 18-6-4.5; (ii) approving the proposed financing and
recommending issuance of economic development revenue bonds of
the City of Jeffersonville to pay the costs of construction of
the expansion
jeffersonville;
Company; and
WHEREAS,
Commission,
forms of
of the facility located in the City of
and (iii) the leasing of said facilities to the
the Jeffersonville Economic
by said Resolution adopted June 29,
the following agreements and documents
connection with the
between the City and
Trust (including the
County State Bank; (c)
Bonds, to be dated
Development
1979, approved
to be used in
proposed financing: (a) Lease Agreement
the Company; (b) Mortgage and Indenture of
form of Bonds)
Sales Agreement
as of July 1,
Financial, Inc., on one hand, and the City,
and (d) Official Statement describing the
from the City to Clark
for Private Placement of
1979, between Carlson
on the other hand;
proposed financing
and the Bonds; and
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WHEREAS, this Counci~has heretofore, by its R~.olution of
May 7, 1979, found and determined that the proposed financing
will be of public benefit to the health, safety and general
welfare of the City and hereby reaffirms such findings and
determination:
NOW, THEREFORE, BE IT ORDAINED BY
CITY OF JEFFERSONVILLE
Section 1. That
to the delivery of and
THE COMMON COUNCIL OF THE
INDIANA:
the City of Jeffersonville, subject
payment for the revenue bonds, enter
into the necessary contracts for construction of a facility
to be leased to George Neumeister under the provisions of
I.C. 1971, 18-6-4.5.
Section 2. That the City of Jeffersonville enter into
a Lease Agreement with George Neumeister to be dated as of
July 1, 1979. The form of said Lease Agreement is hereby
incorporated into this Ordinance by reference, marked
Exhibit A, to be inserted into the Minutes of the Council,
and to be kept on file by the Clerk. The form and terms of
said Lease Agreement are hereby approved.
Section 3. That the City of Jeffersonville issue City
of Jeffersonville, Indiana, Economic Development First
Mortgage Revenue Bonds (George Neumeister Project), in an
amount not to exceed Four Hundred Thousand Dollars
($400,000) for the purpose of procuring funds to pay the
project costs, which Bonds shall be payable as to
principal, premium, if any, and interest solely out of the
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rentals, revenues, /-'nd other income, charge?~ and money
realized under the above-described Lease Agreement or from
the sale or other disposition of .the leased property, and
which Bonds shall not in any respect be a general
obligation of the City of Jeffersonvitle nor be payable in
any manner from funds raised by taxation.
Section 4. That the City of Jeffersonville enter into
a Mortgage and Indenture of Trust to Clark County State
Trustee, to be dated as of July 1, 1979. The form
Mortgage and Indenture of Trust, the form of said
Bank, as
of said
First Mortgage Economic Development
details pertaining to the issuance of
terms and conditions thereof shall be
form of the Mortgage and Indenture of Trust,
hereby incorporated into this Ordinance by
Revenue Bonds, the
the Bonds and the
as set forth in the
which is
reference,
marked Exhibit B, to be inserted into the Minutes of this
Council and kept on file by the Clerk. The form of said
Mortgage and Indenture of Trust, said Revenue Bonds and the
terms and conditions thereof are hereby approved.
Section 5. That the City of Jeffersonville enter into
a Sales Agreement For Private Placement of Bonds with
Carlson Financial, Inc., to be dated as of July 1, 1979, in
the form which is hereby incorporated into this Ordinance
by reference, marked Exhibit C, to be inserted into the
Minutes of this Council and kept on file by the Clerk. The
form of said Sales Agreement and the agreements,
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representations, w~anties ~nd descripti°r~ included
therein are hereby approved.
Section 6. That the City of jeffersonville issue its
official Statement describing the Bonds, the security
therefor, the Project and the Company. The form of said
Official Statement shall be as set forth in the form of
Official Statement, which is hereby incorporated into this
Ordinance by reference, marked Exhibit D, to be inserted
into the Minutes of this Council and kept on file by the
Clerk. The form and contents of said official Statement
are hereby approved.
Section 7. The provisions of this Ordinance and the
aforesaid Mortgage and Indenture of Trust securing the
Bonds shall constitute a contract by and between the City
of Jeffersonville and the holders of the City of
Jeffersonville, Indiana, Economic Development First
Mortgage Revenue Bonds (George Neumeister) herein
authorized, and after the issuance of said Bonds this
Ordinance shall not be repealed or amended in any respect
which shall adversely affect the rights of said holders so
long as any of said Bonds or the interest thereon remain
unpaid.
Section 8. The Mayor and the Clerk of the Civil City
of jeffersonville, Indiana, are hereby authorized to
execute and attest said Lease Agreement, said Mortgage and
Indenture of Trust, said Bonds, said Sales Agreement For
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PASSED AND
JEFFERSONVILLE,
Private Placement of~-qonds, and said Official ~atement in
the form and manner provided therein and with such
modifications as they may deem necessary and desirable.
The Mayor, Clerk and other officials of the City are hereby
authorized and directed to perform all acts required by and
authorized under the said Lease Agreement, Mortgage and
Indenture of Trust, Official Statement, and Sales Agreement
For Private Placement of Bonds. The Clerk is further
authorized to take all action necessary to sell and deliver
said Bonds as required and authorized by law.
Section 9. All ordinances or parts of ordinances in
conflict herewith are hereby repealed.
Section 10. This Ordinance shall be in full force and
effect from and after its passage.
ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
INDIANA, THIS 2nd day of July, 1979.
ATTEST:
Dick Spencer~Clerk~/
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Presented to me by ~e Mayor of the City of Je~ersonville
~is~ day of ~y , 1979 at the hour of ~ ~/9/%.
Dick Spencer, Clerk ~/
This Ordinance approved and signed by me on this Z'-day
of ~, 1979 at the hour of ~/~. ·
Richard Vissing, Mayor
The undersigned, Dick Spencer, Clerk of the Civil City of
Jeffersonville, Indiana, hereby certifies that the foregoing is
a true and correct copy of an excerpt of the Minutes of a
meeting of the Common Council of the Civil City of
Jeffersonville, Indiana, held July 2, 1979, as the same appear
in the Records of the Minutes of the Common Council of said
City.
Dick ~Pencer, C er U U
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