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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