HomeMy Public PortalAbout032-1988- ORDINANCE APPROVING THE ISSUANCE AND SALE OF PARK DISTICT BONDSORDINANCE NO. 32-1988
AN ORDINANCE APPROVING THE ISSUANCE AND SALE OF PARK DISTRICT BONDS NOT TO EXCEED
TWO MILLION DOLLARS BY THE RICHMOND PARKS AND RECREATION BOARD FOR THE PURPOSE
OF PROVIDING FUNDS TO BE APPLIED ON THE COST OF CONSTRUCTION OF NEW PARK AND
RECREATIONAL FACILITIES.
WHEREAS; the Richmond Parks and Recreation Board (the "Board") of the Park District of
the City of Richmond, Indiana, (the "Park District") has determined to take the
necessary steps for the construction of new park and recreational facilities,
including the improvements and renovations to the former Southview Elementary
School including a new roof and energy efficient heating and air conditioning
systems, the repair and improvement of the Richmond Municipal Swimming
Pool, the construction of a centralized maintenance facility, the construction and
improvements of new park and recreational facilities, and the purchase of park
maintenance equipment; and
WHEREAS; pursuant to IC 36-10-3-23 the Board adopted a Declaratory Resolution,
declaring that it was necessary and would be of public utility and benefit to
proceed with the aforementioned projects, held a public hearing thereon and
adopted a Confirmatory resolution, modifying and confirming said Declaratory
Resolution; and
WHEREAS; a Petition has been filed under the provisions of IC 6-1.1-20-3 by more than
fifty (50) owners of taxable real estate in the City of Richmond, Indiana,
requesting said Board to issue Park District Bonds for the purpose of providing
funds to be applied on the cost of said projects, together with all of the expenses
in connection with and incidental to the issuance and sale of such bonds; and
WHEREAS; said Board, pursuant to IC 36-10-3-25 (a) held a public hearing at which the
Board disclosed the purposes for which said bonds are proposed to be issued, the
amount of the proposed issue and all other pertinent data; and
WHEREAS; IC 36-10-3-25 (c) requires that prior to any additional proceedings, the Board
shall obtain from this Common Council, an ordinance approving the bond issue;
and
WHEREAS; the Common Council now finds that the above mentioned projects are in the best
interests of and will be for the general benefit of the City and its citizens; and
WHEREAS; said Common Council agrees that such projects must be funded by the issuance of
Park District Bonds;
NOW THEREFORE, BE IT ORDAINED by the Common Council of the City of Richmond,
Indiana, as follows:
SECTION 1. That the Common Council hereby approves the proposed issuance of Park
District Bonds by the Richmond Parks and Recreation Board in an amount not to
exceed Two Million Dollars ($2,000,000.00) for the purpose of procuring
funds to be applied on the cost of the construction of new park and recreation
facilities, including the improvements and renovations to the former Southview
Elementary School including a new roof and energy efficient heating and air
conditioning systems, the repair and improvement of the Richmond Municipal
Swimming Pool, the construction of a centralized maintenance facility, the
construction and improvements of new park and recreational facilities, and the
purchase of park maintenance equipment; together with the incidental expenses
in connection with such projects and the issuance of bonds on account thereof.
SECTION 2. This ordinance shall be considered as approval of said bond issue as required by
IC 36-10-3-25 (c).
SECTION 3. The Mayor and Clerk are hereby authorized and directed to do all things
necessary to accomplish the sale and delivery of said bonds as are required by
law and the proceedings of the Richmond Parks and Recreation Board.
SECTION 4. This ordinance shall be in full force and effect from and after its passage by the
Common Council of the City of Richmond and signing by the Mayor.
PASSED AND ADOPTED by the Common Council of the City of Richmond, Indiana, this day
of i�u 1988.
President of Common Council
PRESENTED by me to the Mayor of the City of Richmond, Indiana ,this 7 7�- day of
1988 at the hour of /1 e 0 o'clock /.M..
APPROVED by me, Frank H. Waltermann, Mayor of the City of Richmond, Indiana, this
day of ��yue 1988 at the hour of /1 ; o o o'clock ,g—. M.
Mayor
ATTEST:&,, �2a(,, �> ,
City Clerk`