HomeMy Public PortalAbout1995-24RESOLUTION NO. 1995 -24
A RESOLUTION ESTABLISHING A PLAN FOR
COOPERATIVE DEVELOPMENT OF THE
PUTNANI COUNTY AIRPORT
WHEREAS, the Greencastle Common Council has approved a plan for cooperative development
of the Putnam County Airport; and
WHEREAS, certain of the funds proposed to be expended by the Greencastle Redevelopment
Commission may not be acquired from tax exempt bonds; and
WHEREAS, Industrial Development Funds may be made available for such expenditures; and
WHEREAS, the County of Putnam has agreed to the total sum of $100,000 for airport
improvements over a period of 3 years ($50,000 in 1996, $25,000 in 1997 and $25,000 in 1998).
BE IT THEREFORE RESOLVED that the Greencastle Common Council of the City of
Greencastle approve the use of $200,000 of industrial development funds (CACFID) for a loan to the
Redevelopment Commission for use in said project, said funds to be repaid within years without
interest.
BE IT FURTHER RESOLVED that the industrial development funds, in the amount not to
• exceed $100,000, be loaned to the Redevelopment Commission for the put of meeting cash flows
by reason of funds obligated by Putnam County, said funds to be repaid within three (3) years as set
forth above, without interest.
PASSED AND RESOLVED by the Common Council of the City of Greencastle at its special
meeting this day of 1995.
COMMON COUNCIL OF THE CITY OF G_REENCASTLE, INDIANA
Thomas W. Roach, Susan V. Murray
Mack N. Hammer Michael W. Rokicki
Charles T. Miles
Approved and signed by me this ;V�day of 1995 at sS o'clock M.
Z_
• ATTEST: Michael M. Harmless, Mayor
1
Donald L. Weaver, Clerk- Treasurer
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