HomeMy Public PortalAbout7/25/1989 specialSpecial Session
July 25, 1989
The Cannon Council of the City of Greencastle met in a special meeting in Council
Chambers in the City Hall in Greencastle on the 25th day of July, 1989 at 7:30 p.m.
The meeting was called to order by the Presiding Officer, that being Mayor
• Harmless.
On call of the roll, the members of the Common Council were shown to be present or
absent as follows:
Present: Absent:
Sheri Z. Roach
Susan V. Murray
Michael W. Rokicki
Tim Conway
Robert P. Sedlack
Recommendations:
The Clerk- Treasurer presented to the Common Council a copy of a proposed form of
Ordinance (Ordinance 1989 -19), entitled An Ordinance Authorizing the City of
Greencastle to Issue its 'City of Greencastle, Indiana, Floating/Fixed Rate Economic
Development Revenue Bonds, Series 1989 (Pedcor Investments- 1989 -VII, L.P. Project)' and
Approving and Authorizing Other Action in Respect Thereto', and the substantially final
fors of the Loan Agreement, Trust Indenture, and Mortgage, for adoption by the Cannon
Council.
Phillip Stoffregen, attorney for Pedcor Investments, 1989 -VII, L.P. (the
"Borrower ") then noted that for of ordinance for adoption by the Cannon Council. had
been amended since the first reading by (i) changing the Financing Agreement to permit
a "draw -down' of Bonds as construction progresses and to provide for additional
security to the Trustee, and (ii) adding a sentence thereto to reflect that the initial
issuance of the Bonds is for temporary construction financing and that the City was
agreeing to cooperate with the Borrower in a refunding transaction for the Bonds, in
accordance with the applicable law, to provide permanent financing for the Project.
The proposed form of Ordinance was then examined by members of the Common Council.
•
The proposed form
of Ordinance (Ordinance
1989 -19) was then read
in its entirety.
Councilor Rokicki
moved that Ordinance
1989 -19 be
amended as
presented. This
motion was seconded by
Councilor Murray and was carried by
an aye unanimous
vote.
Councilor Rokicki moved that the Ordinance be passed upon its second reading.
This motion was seconded by Councilor Sedlack and on call of the roll. was carried by
the following vote:
Ayes: Nays:
Sheri Z. Roach
Susan V. Murray
Michael. W. Rokicki
Tim Conway
Robert P. Sedlack
The Presiding Officer, that being Mayor Harmless, then declared the Ordinance
(Ordinance 1989 -19) to be passed and adopted.
Resolution 1989 -14, A Resolution Findorsing Application to Section 8, Existing
Housing Voucher Program, was presented to Council and was read in its entirety by Mayor
Harmless. Councilor. Murray then moved to approve Resolution 1989 -14 as presented.
This motion was seconded by Councilor Rokicki and was carried by an aye unanimous vote.
Mayor Harmless declared Resolution 1989 -14 to have been passed and adopted.
Councilor Sedlack asked if there were any new devel.opments regarding annexation.
Mayor Har7mless noted that Mike Shaver (presently working on the Comprehensive City
Plan) recommended that the southern corridor not be rezoned to commercial at the
present time. Mr. Wilson added that Council was free to contact Mr. Shaver at any time
with questions or concerns. Mr. Wilson also noted that he is preparing the fiscal plan
for annexation and should have it completed in a week. A tour of zoning complaints was
announced for Wednesday, July 26 at 1:30 p.m. Mr. Wilson added that the litigation
• mentioned in the scanner was not a new claim and that 1989 has so far been a claim free
year.
On motion duly made by Councilor Murray, seconded by Councilor Sedlack and
unanimously carried, the meeting was adjournecJ�at
/v
ATTEST: �� L Michael M. Harmless, Mayor
Judith e y, Clerk- reasurerU