Resolutions_1996-� ; ig41�-,
RESOLUTTON OF GIBSON COUNTY COUNCII.
CONCERNING THE REFINANCING OF POLLUTION
CONTROL FACILITTFS BY Tf� CITY OF PRINCETON
FOR PSI ENERGY, INC.
WHEREAS, the Princeton Economic Development Commission ("Princeton EDC") will
meet on October 21, 1996, and conduct a public hearing on behalf of itself, the Princeton
Common Council and this County Council and consider adoption of a resolution appmving the
issuance of bonds for the pucpose of refunding bonds previously issued to finance a portion of
pollution control facilities located at the Gibson Generating Station in an unincorporated area of
Gibson Counry, Indiana, for PSI Energy, Inc. (the "Borrower"); and
Wi�REAS, the Common Council of the City of Princeton met on October 7, 1996, and
will meet on October 21, 1996 to consider final adoption of an ordinance for the same purposes;
and
WF�REAS, I.C. 36-7-12-22 pmvides that pollution contml facilities that are located
outside the corporate boundaries of a municipality may not be financed by the municipality
without the consent of the fiscal body of the unit in which facilities are to be located; and
WF�REAS, Internal Revenue Code Section 147(� requires approval of fmancings of
facilities by the governmental unit having jurisdiction over the area in which a facility is located
upon giving the public an opportunity to be heard at a public hearing; and
WHEREAS, the County, its residents and their pmpeity are not and will not be liable,
directly or indirectly, for or under the bonds to be issued to refund previously issued bonds;
NOW, TT�REFORE, RESOLVED, that this County Council hereby consents to and
approves the issuance of the City of Princeton, Indiana, Pollution Control Revenue Refunding
Bonds, 1996 Series A(PSI Energy, Inc. Project) (the "Series 1996 Bonds") in an amount not
• to exceed appmximately $24,600,000 for the Borrower for the purpose of refunding previously
issued bonds, which were issued to defray a portion of the cost of the acquisition, constniction
and equipping of certain pollution control facilities, such facilities being located in Montgomery
Township on State Road 64 West, approximately four miles west of the intersecdon of State
Road 64 and State Road 65, in an unincorpoiated area of Gibson County, Indiana; and
RFSOLVED FLJRTf�R, that this County Council hereby authorizes the Princeton EDC
to hold an Internal Revenue Code § 147(� public hearing on behalf of this Gibson County
Couocil, and subject only to any objections raised by citizen remonsttators at such hearing, this
Resolution shall constitute the approval of the elected public officials of Gibson Counry, Indiana,
to the issuance of the revenue bonds and refunding of the bonds referenced above; and
RFSOLVED FLTRTFIER, that in accordance with I.C. 36-7-12-5, this County CouncIl
hereby nominates Richard Lanl�ord to the Princeton EDC.
ATTEST:
�r�v,J'. i'�,Jti'�
Z'ii son County Au itor
�3iz3i - 2 -
GIBSON COUNTY COUNCII.
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