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RESOLUTION NO. 1999-300
7)//—
A RESOLUTION AUTHORIZING FUNDING OF
PRELIMINARY ENGINEERING STUDY OF
INDIANAPOLIS ROAD BETWEEN WOOD STREET AND TENTH STREET
FROM INDUSTRIAL DEVELOPMENT FUNDS
WHEREAS, this Resolution shall supercede Common Council Resolution 1999-23; and
WHEREAS, in order to implement a Greencastle Transportation Plan, it is necessary to
conduct a preliminary engineering study of traffic patterns along Indianapolis Road from Wood Street
to Tenth Street; and
WHEREAS, the focus of said study shall be the corridor between Wood Street and Percy L.
Julian Drive, and between Fifth Street and Tenth Street; and
WHEREAS, it has been estimated that the cost of the preliminary engineering study will not
exceed One-hundred, twenty-five thousand and 00/100 dollars ($125,000.00).
WHEREAS,the Citizens Advisory Commission for Industrial Development(CACFID)agreed
to the loan of funds for said study at its June 30, 1999 meeting, and
• WHEREAS, funding for the preliminary engineering study shall be through a loan from the
Industrial Development Fund, such loan to be repaid from the issuance of any resulting construction
bonds or other monies appropriated for the improvement of Indianapolis Road, or through other
available funds. Full repayment shall be made no later than December 31, 2002. Early repayment
is acceptable. No interest will be paid.
NOW THEREFORE BE IT RESOLVED:
THAT the Common Council ofthe City of Greencastle authorizes payment from the Industrial
Development Fund in the amount of One-hundred, twenty-five thousand and 00/100($125,000.00)
with the above-named restrictions for the purpose of conducting a preliminary engineering study of
Indianapolis Road from Wood Street to Tenth Street.
PASSED AND RESO VED by the Common Council ofthe City of Greencastle at its regular
meeting this day of_ __ , 1999.
COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA
Thomas W. Roach Barry Baynard
•
Mark N. Hammer David Masten
Kieth Green
Approved and signed by me thiOgay of ,_. ?2,41,7_____ 1999 at o'clock p.m.
•
Nancy A. Michael, Mayor
ATTEST:
Pamela S. Jones, Cl r easurer
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