HomeMy Public PortalAbout12/27/1995 specialCity of Greencastle
City ball
• Four East Walnut 5-treet
Greencastle, Indiana 46135
Don Weaver, Clerk- Treasurer
GREENCASTLE COINLti[ON COUNCIL
Special Session
December 27, 1995
The Greencastle Common Council was scheduled to meet in special session on Wednesday.
December 27, 1995, at 1:30 pm. in the Board Room of Walden Inn. The session was called to order
by Mayor Harmless at 3:01 p.m. On the Roll Call. the following were found to be present:
Councilor Hammer, Councilor Miles. Councilor I9lurrav, Councilor Roach and Councilor Rokicki.
Also present were Mayor -Elect Nancy i\/Iichaei. City Attorney John Zeiner and Mr. Bob Evans and
Mr. Ted Willer, representing the Putnam County Foundation.
Public Petitions and Comments:
City Attorney Zeiner announced that ciosing on the Redevelopment District i TIF) bonds took
place this morning.' Clerk- Treasurer Weaver noted that the Funds have not yet been received_ but
are expected at First Citizens Bank later this afternoon.
There were no other Public Petitions or Comments.
O Approval of Minutes:
Minutes of the December 12 Joint meeting with CACFID and the December 1 2 regular
meeting had been distributed to Council. Councilor Roach moved to accept both sets i the joint
session's with correction of Ted Willees name). Councilor Rokicki seconded and the motion carried
on an ave unanimous (5 -0) vote.
Public Hearing:
As advertised by Legal Notice, a Public Hearing on Resolution No. 1995 -30, A Resolution
.authorizing Additional Appropriations, was opened by Mayor dike Harmless. There were no
public comments. The public hearing was closed.
Recommendations and Requests from Officers and Departments:
Resolution No. 1995 -29, A Resolution authorizing the Transfer of Funds Administered
.Jointly by the Common Council and the Citizens Advisory Commission For Economic
Development (CACFID) to the Putnam County Foundation, was presented again to Council.
During thejoint meeting with CACFID that hadjust taken place there had been lengthy discussion
of the issues and CACFID had accepted the agreement with the Putnam County Foundation, setting
the size of the gift at 5650,000. After very brief additional discussion, Councilor Nturrav moved
approval of Resolution No. 1995 -29, %vith acceptance of the same wording change in the agreement
that CACFID has accepted, and with notation of "S650,000.00" as the amount of the transfer and
• today's date. Councilor Hammer seconded the motion. Councilor Rokicki said "I see this as a
partnership." Councilor Roach said, "I'm for the Foundation. but I can't support taking these funds
out of Elected Officials' hands." The question was called and the motion passed on the rollowing
vote:
0 AYE NAY ABSTAIN
Councilor Hammer Councilor Roach Councilor Miles
Councilor Murray
Councilor Rokicki
Ordinance No. 1995 -18, An Ordinance Authorizing an Interloeal Agreement between
the City of Greencastle and the Town of Fillmore for Waste Water Treatment, was presented
on final reading. Councilor Roach moved adoption of the ordinance. Councilor Miles seconded
and Ordinance No. 1995 -18 was adopted on an aye unanimous (5 -0) vote. Attornev Larry Wilson
and City Engineer Barnes will finalize .engineenng details and cost figures; the actual agreement
will be presented to the Board of Works.
Ordinance No. 1995 -21, An Ordinance Vacating a Portion of Columbia Street East of
College Avenue and Vacating an Alley North of Lots 168 and 185 of the Original Plat of the
Town of Greencastle, was presented on final reading. Present for this discussion were ivlr. William
A. Phillips, owner of an affected property, who had raised objections at first reading, and Ms. Mary
Frances Snvder, reaitor. Ms. Snyder informed Council that the parties had worked out an
arrangement of easements that are mutually satisfactory. Mr. Phillips indicated that his concerns
had been satisfied. Ms. Snyder indicated that her firm will file all easements. Councilor Roach
moved adoption of the ordinance. Councilor Rokicki seconded and Ordinance No. 1995 -21 was
adopted on an aye unanimous (5 -0) vote.
Resolution No. 1995 -30, A Resolution Authorizing Additional Appropriations, was
• presented to Council. It was read in its entirety by City Attorney Zeiner. Clerk- Treasurer Weaver
pointed out that the additional appropriations to the General Fund, MVH Fund and Cemetery Fund
are made from unanticipated revenue. Councilor Rokicki moved to accept the resolution.
Councilor Murray seconded and Resolution No. 1995 -30 was adopted on an aye unanimous (5 -0)
vote.
Ordinance No. 1995 -22, An Ordinance Creating a Violations Bureau for the City of
Greencastle, was presented on final reading. Councilor Roach moved adoption of the ordinance.
Councilor Miles seconded and Ordinance No. 1995 -2 was adopted on an aye unanimous (5 -0) vote.
Ordinance No. 1995 -23, An Ordinance Amending Ordinance No. 1992 -3. Defining
Powers of the Department of Redevelopment, was presented on final reading. The final version
reflects the change made on first reading. Councilor Murray moved adoption of the ordinance.
Councilor Hammer seconded and Ordinance No. 1995 -23 was adopted on an aye unanimous (5 -0)
vote.
Ordinance No. 1995-24, An Ordinance Authorizing Conveyance of Real Estate by the
City of Greencastle to the Greencastle School Corporation, was presented on first reading. It was
read in its entirety, except for Exhibit A (legal description). Mr. Zeiner reported that Farmers Home
Administration has approved forgiveness of the original loan to the City, but also wants State
approval. State approval is expected, but has not come yet. Council may take final action as soon
as State approval is received. Councilor Rokicki move approval of the ordinance on first reading.
The motion was seconded by Councilor Miles and passed on an aye unanimous (5 -0) vote.
• Council Reports and Comments:
The proposed City holiday schedule for 1096 was presented to Council. Councilor Miles
moved approval of the schedule. Councilor Murrav seconded and the motion was passed on an aye
unanimous (5 -0) vote.
" C i t y A t t o m e v Z e i n e r c a l l e d a t t e n t i o n t o a l e t t e r r e c e n t l y r e c e i v e d f r o m I c e M i l l e r D o n a d i o
& R y a n i n d i c a t i n g t h a t t h e N R C i s a b o u t t o o r d e r a 2 . 6 6 % r e d u c t i o n i n w a t e r r a t e s b e c a u s e t h e
r a t e s o n t h e 1 9 9 5 W a t e r W o r k s R e v e n u e B o n d s w e r e l o w e r t h a n a n t i c i p a t e d . A s s o o n a s f i n a l o r d e r
i s r e c e i v e d , t h i s w i l l h a v e t o b e i m p l e m e n t e d .
A d j o u r n m e n t :
W i t h n o f u r t h e r b u s i n e s s , o n a m o t i o n b y C o u n c i l o r R o k i c k i a n d s e c o n d e d b y C o u n c i l o r
M u r r a y , t h e m e e t i n g a d j o u r n e d a t 2 : 4 9 p m .
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DESIGNATED ENDOWMENT FUND AGREEMENT
BETWEEN
PUTNAM COUNTY FOUNDATION, INC.
AND
CITIZENS ADVISORY COMMISSION
FOR INDUSTRIAL DEVELOPMENT
AND
THE CITY OF GREENCASTLE
THIS AGREEMENT, made and entered into on a cE H 6F_ 2 o 7 ,
1995, by and between PUTNA.M COUNT`' FOUNDATION, INC. (the
"Foundation "), and CITIZENS ADVISORY COMMISSION FOR INDUSTRIAL
DEVELOPMENT AND THE CITY OF GREENCASTLE (.hereinafter referred to
as the "Founding Contributors "),
WITNESSETH:
AHEREAS, the Founding Contributor uesires cc create a
charitable designated e_n_GDwment in the F oundation; and
WHEREAS, the Fcundaticn is a C rofit Indiana _cr
erem_et from ta_<aticn under Internai_.evenue Code ( "Cede") section
50 1(c) (3) , a public char_: " descr'_:e In section 170 .D) (1) (A) (•Ii)
of the Code, and accordingly an appropriate instItut =on within
which to establish such a chari_able °_ndcwment; and
• WHEREAS, the basic curncse of t__ Fcundaticn is to ser•%e the
continuing charitable wishes of the donor in perpetuity; and
WHEREAS, the Foundation is.✓ili_ng and able to create such
an endowment as a Designated Endowment 7nnd, subject tc the terms
and conditions hereof;
NOW THEREFORE, the parti =_s acree as follows:
i. NAME OF THE =UND 7 h --e s - '!erebv establlsn_ed 4n the
Foundation, and as a Dart thereof, a fund desicnated as
GREENCASTLE INDUSTRIAL DEVELOPM =?,]D ;hereinafter referred to
as , the Fund ") to receive gi'tS, "dnatever form of mcnev pr
property, and to administer the same.
2. PURPOSE The primary purpose of the Fund snail be to
provide support for Greencastle Industrial Development as
administered by C_tizens 3dviscry Commission for Industrial
Development to carry out their role and mission as described by
their governing documents.
3. GIFTS The Founding Contr_ utor hereby transfers
a
irrevocably to the = oundat'_on t:_e sum of 3 OGO�
Subject to the right of _he Fcundaticn to reject any particular
S gift, any person whether an inciv:cua_, corporation, trust,
1
" e s t a t e , o r o r g a n i z a t i o n ( h e r e i n a f t e r r e f e r r e d t o a s " D o n o r " ) m a y
m a k e a d d i t i o n a l g i f t s t o t h e F o u n d a t i o n f o r t h e p u r p o s e s o f t h e
F u n d b y a t r a n s f e r t o t h e F o u n d a t i o n o f p r o p e r t y a c c e p t a b l e t o
t h e F o u n d a t i o n i n w h o l e o r i n p a r t f o r t h e F u n d . A l l g i f t s ,
b e q u e s t s , a n d d e v i s e s t o t h i s F u n d s h a l l b e i r r e v o c a b l e o n c e
a c c e p t e d b y t h e F o u n d a t i o n .
4 . D I S T R I B U T I O N T h e a n n u a l e a r n i n g s a l l o c a b l e t o t h e
F u n d s h a l l b e d i s t r i b u t e d u p o n w r i t t e n n o t i c e t o t h e F o u n d a t i o n
b y C i t i z e n s A d v i s o r y C o m m i s s i o n F o r I n d u s t r i a l D e v e l o p m e n t a n d
t h e G r e e n c a s t l e C o m m o n C o u n c i l . T h e o r i g i n a l F u n d p r i n c i p a l a n d
a n y d o n a t e d p r i n c i p a l a d d i t i o n s t o t h e F u n d , m a y n o t b e
c o m m i t t e d , g r a n t e d , o r e x p e n d e d . I f a n y g i f t s t o t h e F o u n d a t i o n
f o r t h e p u r p o s e s o f t h e F u n d a r e r e c e i v e d a n d a c c e p t e d s u b j e c t t o
a D o n o r ' s c o n d i t i o n s o r r e s t r i c t i o n s a s t o t h e u s e o f t h e g i f t o r
i n c o m e t h e r e f r o m , s a i d c o n d i t i o n s o r r e s t r i c t i o n s w i l l b e
h o n o r e d , s u b j e c t , h o w e v e r , t o t h e a u t h o r i t y o f t h e F o u n d a t i o n ' s
B o a r d o f D i r e c t o r s ( h e r e i n a f t e r t h e " B o a r d " ) t o v a r y t h e t e r m s o f
a n y g i f t i f c o n t i n u e d a d h e r e n c e n o a n y c o n d i t i o n o r r e s t r i c t i o n
i s i n t h e j u d g e m e n t o f t h e F o u n d a t i o n ' s B o a r d u n n e c e s s a r y ,
i n c a p a b l e o f f u l f i l l m e n t , o r i n c o n s i s t e n t w i t h t h e c h a r i t a b l e o r
o t h e r e x e m p t p u r p o s e s o f t h e F o u n d a t i o n o r n e e d s o f t h e c o m m u n i t y
s e r v e d b y t h e F o u n d a t i o n . N o d i s t r i b u t i o n s h a l l b e m a d e f r o m t h e
" F u n d . t o a n y i n d i v i d u a l o r e n t i t y i f s u c h d i s t r i b u t i o n w i l l i n t h e
j u d g e m e n t o f t h e F o u n d a t i o n e n d a n g e r t h e F o u n d a t i o n ' s C o d e
s e c t i o n 5 0 1 ( c ) ( 3 ) s t a t u s .
5 . A D M I N I S T R A T I V E P R O V I S I O N S N o t w i t h s t a n d i n g a n y t h i n g
h e r e i n t o t h e c o n t r a r y , t h e F o u n d a c i o n s h a l l h o l d t h e F u n d , a n d
a l l c o n t r i b u t i o n s t o t h e F u n d , s u b j e c t t o t h e p r o v i s i o n s o f t h e
a p p l i c a b l e I n d i a n a l a w s a n d t h e F o u n d a t i o n ' s A r t i c l e s o f
I n c o r p o r a t i o n a n d B y - l a w s . T h e B o a r d s h a l l m o n i t o r t h e
d i s t r i b u t i o n o f t h e F u n d t o e n s u r e i t i s u s e d e x c l u s i v e l y f o r
c h a r i t a b l e o r o t h e r e x e m p t p u r p o s e s ( w i t h i n t h e m e a n i n g o f C o d e
s e c t i o n 1 7 0 ( c ) ( 1 ) o r ( 2 ) ( 3 ) , a n d s h a l l h a v e a l l p o w e r s o f
m o d i f i c a t i o n a n d r e m o v a l s p e c i f i e d i n U n i t e d S t a t e s T r e a s u r y
R e g u l a t i o n s S e c t i o n 1 . 1 7 0 A - 9 ( e ) ( 1 1 ) ( v ) ( B ) .
T h e B o a r d a g r e e s t o p r o v i d e t h e F o u n d i n g C o n t r i b u t o r a c o p y
o f t h e a n n u a l e x a m i n a t i o n o f t h e f i n a n c e s o f t h e F o u n d a t i o n a s
r e p o r t e d u p o n b y i n d e p e n d e n t c e r t i f i e d p u b l i c a c c o u n t a n t s .
T h e P u t n a m C o u n t y F o u n d a t i o n , I n c . i n c o n s i d e r a t i o n o f t h e
u n i q u e n a t u r e o f t h e F u n d a n d i n a d e s i r e t o i n s u r e t h e p e r p e t u a l
p r e s e n c e o f q u a l i f i e d , c o m m u n i t y r e s p o n s i v e F o u n d a t i o n B o a r d
l e a d e r s h i p , h e r e b y a g r e e s t o a m e n d i t s b y - l a w s t o p r o v i d e t h a t ,
a t a l l t i m e s , a t l e a s t 1 5 1 ( n o t l e s s t h a n t h r e e ) m e m b e r s o f t h e
F o u n d a t i o n B o a r d s h a l l b e s e l e c t e d a n d a p p o i n t e d o r r e a p p o i n t e d
" a n n u a l l y a s f o l l o w s :
2
a. 1 member named by the Greencastle City Council.
• b. 1 member named by the Mayor (member appointed should be
member of Greencastle Common Council so long as any member is
willing to serve).
C. 1 member designated by the Mayor of the City of
Greencastle (maybe Mayor).
d. Any additional members required to attain the 15's
requirement shall be named by the Mayor and shall be members of
CACFID.
The above named individuals shall also be named and serve as
a subcommittee of the Foundation inance Ccmmittee and shall have
authority over the investments of Fund within the.guidelines
Ta ,.
of the Foundation Board investment pclicies::N+.� as a
6. CONDITIONS FOR AC=E -ANCF OF FUNDS The Founding
Contributor and Donors agree and ackncwiedce that the
establishment of the Fund herein created is made in recouniticn
of, and sub]ect to, the terms and conditions of the Articles of
i ncorporation and By -laws of the F_undat_On. The Foundation
agrees and ackncwiedges -nac t:he -�scablishmenc of the Fund herein
and the transfer of t: -e =undS tner =tc is made subject co I.' 36-
1 -14 - 1 and further that FCundat =on receive a matt.hi -a amcunc
f cm the Li Endowment Co ---- tcta_ "L'a1: "1na marcn and, ...f
not, the parties agree tnat t.ne roper - _y, and t_ ^.e filet
acereciation of the prccert'f, realited ..r unrealized, shall
o revert back to the Fcund' - ^C -_= - .Alcor.
7. CONTI' -he Fend _hall continue so long as assets
are available in the Fund and the curposes in the Fund can be
served by its continuation. If the Fcundaticn loses its status as
a oubl'c charitable crgaini zation, -S liquidated, '"iclates any
condition of this Endowment A gr__.. ement, t:.e Fund is terminated,
the Fcundaticn shall return -he _ty in the Fund, plus the
net ancreclac_on of prccerty _ _v =t °C ._ unrea1_3e^. t0 t =e
Greencastle Industrial he`JelGcment _und.
B. NC,T A SEPARATE TRU= T' ^e Fund Shall :oe a oomccnent
part of the Foundation. A11 money and prcbercy in the Fund shall
be held as general assets of the Fcundation and net segr egated as
trust property of a separate trust; orovided that the curposes o
determining the share of _he Fcundacicn's earnings allocable to
the Fund and the value cf the crincipal of the Fund, -,-e interest
of the Fund in the general assets of the Foundation shall be a
percentage determined by dividing the gift co the Fund by the
then value of the total assets of -he Foundation, such oerccencaae
interest being subject to adjustment at the time of each addition
to or reduction of the assets cf the Foundation.
9.
ACCOUNTING The receiocs and d-snursements of
this Fund
shall
be
accounted for separatel_i and apart from those
of other
•
gifts
to
the Foundation.
10. INVESTMENT OF FUNDS The Foundation shall have all
• powers necessary to carry out the purposes of the Fund,
including, but not limited to, the power to retain, - ' invest, and
reinvest the Fund and the power to commingle the assets of the
Fund with those of other funds for investment purposes.
11. COSTS OF THE FUND It is understood and agreed that
the Fund to the extent of the original principal contributed from
the Industrial Development Fund along with any net appreciation
shall be administered without cost to Fund by the Foundation,
however, any direct cost in accepting, managing or transferring
assets shall be paid from the Fund.
IN WITNESS WHEREOF, the Cit_v cf Greencastle and its Citizens
Advisory Commission For Industrial Development have executed this
Agreement and the Foundation has caused this Agreement to be
approved bV its Board and to be executed bV a du1Y authorized
officer, all as of the day and year first above written.
CIT / ' ^ 9�7 GRE rid CASTLE
Michael M. Harmless,Mavor
• ATTEST:
Clerk
CITIZENS ADVISORY COM[� SST_
OD
FOR INDUSTRIAL DEV L° OFM/ EN
Robert E. Hutchings, Chairman
Approved by the Board of Directors of the Putnam County
Foundation, Inc., on 1 (61 , u,_G '2
n
LJ
gr \b \endpccca.agr
PUTNAM COUNT`? FOUNDATION, INC
BV Q
President
4