County Commissioner Ordinance- November2010-3' . , �ob3
ORDINANCE NO. �Z�9/0'�'
BOARD OF COMMISSIONERS OF GIBSON COUNTY, INDIANA
An ordinance exercising the Home Rule powers of Gibson County;
Indiana and other matters connected therewith
WHEREAS, the Board of Commissioners (the `Boazd") of ) Gibson Counry, Indiana
(the "County") may designate an economic recovery zone (the "Recovery Zone') in accordance
with Section 1401 of The American Recovery and Reinvestment Act of 2009 (the "Stimulus
Act");
WHEREAS, the Stimulus Act authorizes counties and large municipalities to issue
recovery zone economic development bonds (the "Recovery Zone Bonds') for purposes of
promoting development or other economic activity in a Recovery Zone, including to finance:
(i) capital expenditures related to property located in the Recovery Zone; (ii) public
infrastructure and facilities; and (iii) job training and educational programs;
WHEREAS, the Stimulus Act authorizes counties and lazge municipalities to issue
recovery zone faciliry bonds (the "Recovery Zone Faciliry Bonds°) to finance property used in a
Recovery Zone for a qualified business;
WHEREAS, pursuant to the Stimulus Act, each state has been allocated an amount equal
to the ratio of a state's employment decline for 2008 to the aggregate of employment dedine of
2008 for all states multiplied by $10 billion for Recovery Zone Bonds, but in no event less than
$90 million and multiplied by $15 billion for Recovery Zone Facility Bonds, but in no event less
than $35 million (collectively, the "State Allocatiod');
WIIEREAS, the Stimulus Act provides for the reallocation of the State Allocation to all
counties and large municipalities within the State of Indiana (the "State") in the propoRion that
each county's or municipality's 2008 employment decline bears to the aggregate of the 2008
employment declines for the counties and municipalities in the State (the "Local Volume Cap");
WHEREAS, pursuant to the Stimulus Act a county or municipality may waive any
portion of its Local Volume Cap;
WHEREAS, IC 36-1-3 is known as the Home Rule Act;
WI�IEREAS, IC 36-1-3-5(a) provides that a unit may exercise any power it has to the
extent that the power: (]) is not expressly denied by the Indiana Constitution or by statute; and
(2) is not expressly granted to another entity;
WHEREAS, IC 36-1-3-6 provides that if there is a constitutional or statutory provision
requiring a specific manner for exercising a power, a unit wanting to exercise the power must do
so in that manner, and that in the absence of a constitutional or statutory provision requiring a
specific manner for exercising a power, a unit wanting to exercise the power must either: comply
with a statutory provision permitting a specific manner for exercising the pow�er or adopt an
ordinance prescribing a specific manner for exercising the power;
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WHEREAS. IC 36-1-2-23 defines "uniP'to include a county;
WHEREAS, IC 36-1-3-6(c) provides that a county desiring to prescribe a specific
manner for exercising a power must do so through an ordinance adopted by the county's
executive;
WHEREAS, the Boazd is the executive of the Counry; and
WHEREAS, the Board is unawaze of any potential projects in the Counry that would
benefit from Recovery Zone Facility Bonds, although the Boazd DOES intend to issue its Local
Volume Cap of Recovery Zone Economic Development Bonds by the end of 2010;
NOW, TIIEREFORE, BE IT ORDAINED BY THE BOARD OF COMMISSIONERS
OF GIBSON COUNTY, INDIANA:
SECTION 1. The Board hereby prescribes the manner in which waiver of all or a
portion of the County's Local Volume Cap shall be by adoption of an ordinance of the Boazd.
SECTION 2. The Boazd hereby waiees the County's entire Two Million One Hundred
Nineteen Thousand Dollaz ($2,119,000) allocation of Recovery Zone Facility Bond Local
Volume Cap by adoption of this Ordinance.
SECTION 3. The Boazd hereby requests that the State of Indiana, acting through the
Indiana Finance Authority; reallocate the entire Two Million One Hundred Nineteen Thousand
Dollaz ($2,119,000) of waived Local Volume Cap of Recovery Zone Facility Bonds to the Ciri
of Salem, Washington County, Indiana.
SECTION 4. If for any reason any section, subsection, sentence, clause or phrase of this
Ordinance or the application thereof to any person or circumstance is declazed to be
unconstitutional or invalid or unenforceable, such decision shall not affect the validity of the
remaining portions of this Ordinance.
SECTION 5. This Ordinance shall take effect and be in force from and after passage
and compliance with IC 36-2-4-8.
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PASSED AND ADOPTED this l d
�J day of November 2010
BOARD OF COMMISSIONERS OF GIBSON
COUNTY, INDIANA
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Revised Gibson Counrv RZB Waiver Ordinance v I