HomeMy WebLinkAbout2001-R-17RESOLUTION NUMBER 2001-
RESOLUTION OF THE COMMON COUNCIL OF
JEFFERSONVILLE, INDIANA REQUESTING THE TOWN
OF CLARKSVILLE, INDIANA TO ISSUE AN ECONOMIC
DEVELOPMENT REVENUE NOTE TO ASSIST
BRIDGEPOINTE, GOODWILL INDUSTRIES & EASTER
SEAL SOCIETY, INC. IN FINANCING THE COST OF
ACQUIRING, CONSTRUCTING AND EQUIPPING AN
ECONOMIC DEVELOPMENT FACILITY IN
JEFFERSONVILLE, INDIANA AND REFUNDING
TAXABLE DEBT THE PROCEEDS OF WHICH WERE
ORIGINALLY USED AT ITS ECONOMIC DEVELOPMENT
FACILITIES IN BEDFORD, INDIANA, NORTH VERNON,
INDIANA, SALEM, INDIANA, SEYMOUI~ INDIANA AND
CLARKSVILLE, INDIANA.
WHEREAS, Bridgepointe, Goodwill Industries & Easter Seal Society, Inc. (the
"Corporation") has requested that the Town of Clarksville, Indiana (the "Town") issue its
economic development note, pursuant to IC 36-7-11.9 and IC 36-7-12-1 et seq., as amended
(the "Act"), in an amount not to exceed $2,617,151.94 (the "Note"), and lend the proceeds
thereof to the Corporation in order to pay, or to reimburse the Corporation for, acquiring,
constructing and equipping an economic development facility in Jeffersonville, Indiana and
refunding taxable debt, the proceeds of which were originally used at its economic
development facilities in Bedford, Indiana, North Vernon, Indiana, Salem, Indiana, Seymour,
Indiana and Clarksville, Indiana (the "Proj ect" ); and
WHEREAS, the Town, the Corporation and Union Planters Bank, National Association
(the "Bank") will enter into a loan agreement pursuant to which the Corporation will make
loan payments to the Bank sufficient to pay all of the principal of and interest on the Note as
the same become due; and
WHEREAS, the financing of the Project will tend to accomplish the public purposes of
the Act and will increase employment opportunities and increase diversification of economic
development in and near the State of Indiana (the "State"), will improve and promote the
economic stability, development and welfare of the area in and near the State, will encourage
and promote the expansion of industry, trade and commerce in the area in and near the State
and the location of other new industries in such area; and
WHEREAS, the Corporation incurred debt related to the economic development
facilities acquired, constructed and equipped in the City of Jeffersonville, Indiana (the "City")
the taxable debt for which is to be currently refunded by a portion of the proceeds of the Note;
and
WHEREAS, the Corporation has requested the City to have the Town act on behalf of
the City in connection with the issuance of the Note;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF
JEFFERSONVILLE, INDIANA, AS FOLLOWS:
1. That the City, through its Common Council, does hereby request that the Town
issue its Note in an aggregate principal amount not to exceed $2,617,151.94, provided that the
Note shall not constitute a general obligation of the Town or the City and that the City shall
have no expense in connection with the Project or the issuance of the Note.
2. The City hereby certifies that it does not reasonably anticipate that the total
principal amount of "qualified tax-exempt obligations" within the meaning of Section 265(b)(3)
of the Code which the City, or any subordinate entity of the City, will issue during the
calendar year during which the Note is issued, will exceed $10,000,000.
3. That the City is authorized, if necessary, to take any and all other action which
may be necessary or desirable in order to obtain the approval of the Town for the issuance of
the Note.
4. That the City shall cooperate fully with the Corporation and with Note Counsel
designated by the Corporation in the issuance of the Note in order to induce said Corporation
to continue its operations in the City and thus promote the public purposes of the Act.
5. That this Resolution shall be in force immediately upon its adoption.
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INTRODUCED, READ AND ADOPTED ON ~( (.o , 2001.
By: (~l.~ /~.r~/~
Thomas R. Galligan v ~/
Title: Mayor, City of Jeffersonville, Indiana
By: ("~ O~ l.k.k~ ~.. C'~ ~
ee~g~
Title: Clerk-Treasurer
City of Jeffersonville, Indiana
Attest:
Peggy ~i~r
Clerk-Treasurer
City of Jeffersonville, Indiana
(Seal of City of Jeffersonville, Indiana)
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CERTIFICATE OF CLERK-TREASURER OF
CITY OF JEFFERSONVILLE, INDIANA
I, Peggy Wilder, hereby certify that I am the duly qualified and acting Clerk-
Treasurer of the City of Ieffersonville, Indiana, that the foregoing Resolution is a true copy of
the Resolution duly introduced, read and adopted by the Common Council of the City of
Jeffersonville, Indiana, on {2~ ~c'~ ~ (-0 ,2001 and that said Resolution appears as a
matter of public record in the'ofl%ial records of said City.
IN TESTIMONY WHEREOF, witness my signature as Clerk-Treasurer and the
official Seal of the City of Jeffersonville, Indiana this ~ day of .P~o~_c~-.~ ,2001.
Peggy
Clerk-Treasurer
City of Jeffersonville, Indiana
(Seal of Jeffersonville, Indiana)
UN078:00UN2:21417:JEFFERSONVILLE
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