HomeMy Public PortalAbout036-1979 - AUTHORIZE AN APPLICATION TO THE STATE OF INDIANA FOR A LOANSPECIAL ORDINANCE NO. 36-1979
AN ORDINANCE TO AUTHORIZE AN APPLICATION TO THE STATE OF INDIANA FOR A LOAN;
AND TO BORROW FOR THE CITY OF RICHMOND, INDIANA, BOARD OF AVIATION M+1IS5IONERS
THEREOF, FUNDS TO AID THE CITY OF RICHMOND, INDIANA, TO INSTITUTE, ACCOMPLISH
AND ADMINISTER THE CONSTRUCTION OF (12) TWELVE NESTED TYPE T-HANGARS AT THE RICH-
MOND MDNICIPAL AIRPORT.
IMMAS, the Board of Aviation Commissioners of the Richmond Municipal Airport
has, by resolution, a copy of which is attached hereto as Exhibit "A" and by
reference made a part hereof, requested new nested type (12) unit T-hangars;
and
WIMREAS, the estimated cost of construction of such hangars is one hundred and
twenty thousand dollars ($120,000.00); and
IUHEREAS, IC 18-I-1.5-2 (g) states the City may borrow money for such purpose
as herein requested; and
IMPEAS, certain funds have been appropriated by the Common Council of the
City of Richmond, Indiana, for the purpose of constructing said nested type
T-hangars, in the amount of thirty-five thousand dollars ($35,000.00); and
WHEREAS, eighty-five thousand dollars ($85,000.00) can be borrowed from the
Indiana Department of Commerce at (S%) five percent per annum; to be repaid
from rents obtained from said hangars after construction; and
i%THEREAS, said Board of Aviation Commissioners has, by aforesaid resolution,
demonstrated a need for such additional hangar space:
NOW, 'THEREFORE, BE IT ORDAINED BY THE CCM%1ON COUNCIL OF THE CITY OF RICMMND,
WAYNE COU=, INDIANA:
1, That it is in the best interest of the people of the City of Richmond,
Indiana, that the facilities of the Richmond Municipal Airport be enlarged by
the construction of additional hangars.
2. That the Board of Aviation Commissioners of the City of Richmond, Indiana,
is hereby authorized and directed to do such acts and execute such documents
as are required to effect the construction of a (12) twelve unit nested type
T-hangar, pursuant to the laws of the State of Indiana and this ordinance.
3. That the City of Richmond, Indiana, and the Board of Aviation Commissioners
be and hereby are authorized, empowered, and directed to borrow oighty-fivc
thousand dollars ($85,000.00) from the Indiana Department of Commerce for the
project herein described, at the annual interest rate not to exceed (5%) five
Percent, to be repaid in (10) ten annual installments.
4. That the Mayor of the City of Richmond, be and hereby is authorized and
directed to execute such documents as are necessary to effect the securing and
the borrowing of the funds set out in (3) three above.
5. That this ordinance shall be in full force and effect upon the passage
and adoption thereof.
PASSED and ADOPTED by the Common Council of the City of RicInnond, Wayne County,
Indiana, this 6'v� day of Q' 1979.
Pr ent of Common Council
Attest:
C t er
Presented by Me, the City Clerk, to the Honorable DMmr of the City of
Richmond, Indiana., this day of
1979.
p"' " '-�.U' G
ity Cie `
APPROVED by me, Clifford J. Diclaaa , Mayor of the City of Richmond, Indiana,
this day of , 1979.
Mayo
Attest:
C ex
-z-
EXHIBIT "A"
RESOLUTIONS OF BOARD OF AVIATION .COMMISSIONERS
WHEREAS., it is in the best interest of the people of the City of
Richmond to increase the use of said airport; and
WHEREAS, the Master Plan of the Richmond Municipal Airport plans
for two (2) additional nests of T-hangars; and
WHEREAS, the Fixed Base Operator at the Richmond Municipal Airport
has all hangar space now available leased and there is a waiting
list for the use of fifteen (15) additional planes; and
WHEREAS, the cost of nested T-hangars is increasing each year; and
WHEREAS, the.City of Richmond, on, behalf of the, Board of Aviation
Commissioners, can borrow one hundred and thirty-seven thousand
dollars ($137,000.00) for ten (10) years at an annual irate of five
percent (5%) from the State of Indiana; and
WHEREAS, certain matching funds are now -available.
NOW THEREFORE be it resolved that.the Board of.Aviation Commissioners
recommend to the Common Council of the City of Richmond, Indiana;
(1.) that said Common Council authorize the construction
of eighteen (18) nested T-hangars; and
(2.) that the City of Richmond borrow, on behalf of the
Board of Aviation Commissioners, one hundred and thirty-
seven thousand dollars ($137,000.00) to construct said
T-hangars; and
MY that the City of Richmond appropriate the sum of thirty
thousand dollars ($30,000.00) from the cumulative capital
improvement fund for said construction; and
(4.) that the City of Richmond appropriate such additional
monies as required for said construction from the cash.
operating balance of said airport fund.
(3,) That the Board of Aviation Commissioners be
authorized to borrows certain funds from the First/or
Second National Bank of Richmond, Indiana,
for the purpose of securing. 'sufficient match-
Ing funds to complete the purchase and con-
struction of eighteen (18) nested type T-hangars;
said sum not to exceed fifty-five thousand
dollars ($55,000.00).
ADOPTED by the Board of Aviation Commissioners of the City of Richmond,
Indiana., this 7th day of r ,1979.
MIIBIT "fit"
RESOLUTIONS OF BOARD OF AVIATION COMMISSIONERS
WHEREAS, it is in the best interest of the people of the City of
Richmond to increase the use of said airport; and
i
WHEREAS, the Master Plan of the Richmond Municipal Airport plans
for two (2) additional nests of T-hangars; and
WHEREAS, the Fixed Base Operator at the Richmond Municipal Airport
has all hangar space now available leased and there is a waiting
list for the use of fifteen (15) additional planes; and
WHEREAS, the cost of nested T-hangars is increasing each year; and
WHEREAS, the City of Richmond,on.behalf of the Board of Aviation
Commissioners, can borrow one hundred and thirty-seven thousand
dollars ($137,000.00) for ten (10) years at an annual rate of five
percent (5%), from the State of Indiana; and
WHEREAS, certain matching funds are now available.
NOW THEREFORE be it resolved that the -Board of Aviation Commissioners
recommend to the Common Council of the City of Richmond, Indiana;
(1.) that said Common Council authorize the construction
of eighteen (18) nested T-hangars; and
(2.) that the City of Richmond borrow, on behalf of the
Board of Aviation Commissioners, one hundred and thirty-
seven thousand dollars ($137,000.00) to construct said
T-hangars; and
(3.) that the City of Richmond appropriate the sum of thirty
thousand dollars ($30,000.00) from the cumulative capital
improvement fund for said construction; and
(G.) -that the City of Richmond appropriate such additional
monies as required for said construction from the cash
operating balance of said airport fund.,.
(5.) That the Board of Aviation Commissioners be
authorized to borrow certain funds from the First/or
Second rational Bank of Richmond, Indiana,
for the purpose of securing sufficient match-
ing funds to complete the purchase and con-
struction of eighteen (18) nested.type T-hangars;.
said sum not to exceed fifty-five thousand
dollars ($55,000.00).
ADOPTED by the Board of Aviation Commissioners of the City of Richmond,,
Indiana, this 7th day of 1 r .1979.
BY: BOARD OF'AVIATION MWISSION
President ice esident
eo
SecrTry L ti :n ar
f=
ouncil Representative
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