HomeMy Public PortalAbout034-2017 - Mayor - Wayne County - Edit FundsDESIGNATION OF WAYNE COUNTY AS RECIPIENT OF
ONE-HALF OF FRACTIONAL AMOUNT OF CERTIFIED DISTRIBUTION
OF ECONOMIC DEVELOPMENT INCOME TAX FUNDS
THIS AGREEMENT entered into by and between the City of Richmond, Indiana
(hereinafter referred to as "City"), by its executive officer, the Mayor of City, the Board of
Commissioners of Wayne County, Indiana (hereinafter referred to as "Commissioners") and
County Council of Wayne County, Indiana (hereinafter referred to as "Council")
WITNESSETH:
WHEREAS, Council has adopted Ordinance No. 1993-1 which imposes a county
economic development income tax ("E.D.I.T.") on the adjusted gross income of county taxpayers
pursuant to the provisions of I.C. 6-3.5-7-1 et seq.; and,
WHEREAS, in the event Ordinance No. 1993-1 which imposes the E.D.I.T. tax is
permitted to continue in full force and effect, City will continue to be entitled to receive a
fractional amount of a certified distribution of E.D.I.T. funds; and,
WHEREAS, Council, Commissioners and City desire under all circumstances to provide
for a county wide economic development program including the common expenditure of funds
derived from the certified distribution of E.D.I.T. funds to promote and sustain economic growth
throughout Wayne County, and,
WHEREAS, Commissioners and City desire and agree that in the event Ordinance No.
1993-1 which imposes E.D.I.T. on county taxpayers is permitted to continue, that at least one-
half (1/2) of the E.D.I.T. funds distributed to the respective taxing units in Wayne County be
consolidated to enable Commissioners to implement an economic growth program upon a
county- wide basis and of greater magnitude by reason of such consolidation of funds; and,
Contract No. 34-2017
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WHEREAS, Council, Commissioners and City further desire to provide Commissioners
the ability to utilize funds from the various units within Wayne County for contract payments to
a non-profit corporation whose primary corporate purpose is to assist government in planning
and implementing economic development projects pursuant to I.C. 6-3.6-6-9.
NOW THEREFORE, in consideration of the mutual promises and covenants herein
contained, the parties hereto agree as follows:
1. In the event Council permits Ordinance No. 1993-1, which imposes an
economic development income tax upon county taxpayers, to remain in full
force and effect then City does hereby, pursuant to I.C. 6-3.6-6-9.5(a)(2),
designate Commissioners (Wayne County Executive) as the recipient of one-
half (1/2) of its share of each and every certified distribution of E.D.I.T. funds
that City will be entitled to receive by reason of the imposition of such tax and
distribution of the certified shares.
2. There has been established the Wayne County Consolidated Economic
Development Income Tax Fund #170 (the "Consolidated EDIT Fund")
3. City authorizes the Auditor and Treasurer of Wayne County, Indiana,
respectively, to confirm such designation by the deposit of such one-half (1/2)
of the share of the certified distribution due City to the Consolidated EDIT Fund
to be under the direct control of Commissioners, and City authorizes the County
Treasurer to transfer such share directly to Commissioners as provided by I.C.
6-3.6-6-9.5(b).
' All references herein to the provisions set forth at Indiana Code (IC) 6-3.5-7, repealed effective January 1, 2017,
shall be deemed to refer and incorporate the corresponding provisions of IC 6-3.6 as set forth in P.L. 243-2015.
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4. Commissioners agree to utilize the funds received by reason of this designation
in conjunction with all other E.D.I.T. funds so designated by other taxing units
in Wayne County to implement an economic growth program upon a county-
wide basis in conformity with the E.D.I.T. statutes of the State of Indiana.
5. Council shall assume by the execution of this designation that City favors the
continuation in full force and effect Ordinance No. 1993-1 which imposes an
economic development income tax upon the taxpayers of Wayne County.
6. Upon the adoption of a capital improvement plan in conformity with
I.C. 6-3.6-6-9.5, City shall be eligible to receive the remaining one-half (1 /2) of
its share of any certified distribution of E.D.I.T. funds. City agrees not to create
any obligation and then pledge such E.D.I.T. funds for payment of the
obligation beyond December 31, 2020 without written consent of
Commissioners with such limitation to include but not be limited to leases,
maintenance agreements and any comparable creation of financial obligation.
7. City specifically agrees not to issue bonds for economic development projects
which are to be payable from the Economic Development Income Tax Fund
without consent of Commissioners and Council, and further not to use its
fractional amount of the certified distribution of the E.D.I.T. funds for any
general capital project, whether through direct construction, retirement of bonds
or the payment of lease rentals, which is not directly related to a specific
economic development project as that term is defined within I.C. 6-3.6-2-8.
The parties hereto recognize and agree that this limitation is more restrictive
than the uses generally allowed by the provisions of I.C. 6-3.6, et. seq.
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8. This agreement shall remain in full force and effect during the calendar years
2017 through 2020, inclusive, or so long as a certified distribution of E.D.I.T.
funds occurs in Wayne County, Indiana during such calendar years. Should any
party hereto determine not to renew this agreement at the end of its term, then
that party agrees to give written notice of such intent to the other parties on or
before June 30, 2020. Such notice is intended only for purposes of allowing
such circumstances to be timely considered in the development of the 2021
budgets for the affected taxing units and parties. Failure to give such notice
shall not affect an automatic renewal of this agreement beyond its December 31,
2020, termination date. Execution of this agreement by the authorized
representative of Council is for the purpose of lending council's endorsement to
the concept of pooled funding of E.D.I.T. monies through the County's
Consolidated EDIT Fund. Nothing contained herein shall constitute a
relinquishment by Council of its right to reduce or to eliminate in its entirety the
E.D.I.T. tax as otherwise permitted by law.
9. The undersigned represent that they have full authorization to execute this
agreement in order to bind Council, Commissioners and City to the terms
hereof. This Agreement shall be binding upon the parties, their agents,
successors and assigns. This Agreement shall be controlled and construed
pursuant to Indiana law and it shall not be modified except by written
instrument signed by all parties.
IN WITNESS WHEREOF, the duly authorized undersigned have hereunto set their hands
and seals for and on behalf of the respective parties this day of
2017.
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WAYNE COUNTY COUlyCJL THE CITY OF RICHMOND, INDIANA
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By: By
Peter Z eski, President < M. Sn ayor
WAYNE COUNTY COMMISSI
In
E. Paust,
Attest:
R�obert Coddington,
Wayne County Auditor