HomeMy Public PortalAbout091-2008 - Created Cert Technology Park FundORDINANCE NO.91-2008
A SPECIAL ORDINANCE CREATING A NEW FUND (402) TO BE KNOWN AS THE
CERTIFIED TECHNOLOGY PARK FUND AND APPROPRIATING PROCEEDS
WHEREAS, On July 19, 2004, the City of Richmond, through its Redevelopment Commission,
designated and allocated an area in the City of Richmond, currently known as the
"Certified Technology Park" in order to be eligible to receive proceeds, up to
$5,000,000.00, pursuant to Indiana Code 36-7-32;
WHEREAS, Indiana Code 36-7-32-23 provides that a redevelopment commission that establishes
a certified technology park shall also establish a Certified Technology Park Fund to
receive any proceeds distributed, said proceeds to be utilized by the redevelopment
commission in accordance with Indiana Code 36-7-32;
WHEREAS, On December 2, 2008, the City of Richmond was notified by the Indiana State
Auditor that the proceeds are now available to be distributed to the City of Richmond
Redevelopment Commission in the amount of $2,182,287.00, and future
disbursements, not to exceed $2,817,713.00, may be also distributed due to the
designation;
WHEREAS, The City of Richmond desires to establish a new non -reverting fund to retain the
proceeds recently received and to encompass any additional disbursements which
may be distributed as a result of the designation of the Certified Technology Park;
and
WHEREAS, The City of Richmond also desires to appropriate these funds for use by the
Richmond Redevelopment Commission to be spent on projects in accordance with
Indiana Code 36-7-32.
NOW, THEREFORE, be it ordained by the Common Council of the City of Richmond, Indiana, that
the following non -reverting fund be created and established for the collection and disbursement of
said Certified Technology Park funds:
1. Certified Technology Park Fund — Fund Number 402
NOW, THEREFORE, be it also ordained by the Common Council of the City of Richmond, Indiana,
that the following sum of money is hereby appropriated to the 402 Certified Technology Park Fund:
1. Two Million One Hundred Eighty-two Thousand Two Hundred Eighty-seven
Dollars and Zero Cents ($2,182,287.00).
Passed and adopted this _15th _ day of _December 2008 by the Common Council of the City of
Richmond, Indiana.
_S/S Larry Parker President
(Larry Parker)
ATTEST: _S/S Karen Chasteen City Clerk
(Karen Chasteen)
PRESENTED to the Mayor of the City of Richmond, Indiana, this _16th day of _December_
2008, at 9:00 a.m.
_S/S Karen Chasteen City Clerk
(Karen Chasteen)
APPROVED by me, Sarah L. Hutton, Mayor of the City of Richmond, Indiana, this _16th _ day of
—December—, 2008, at 9:05 a.m.
_S/S Sarah L. Hutton Mayor
(Sarah L. Hutton)
ATTEST: _S/S Karen Chasteen City Clerk
(Karen Chasteen)