Resolutions_1997-;, .� �._c �ab�
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RESOLUTION OF GIBSON COUNTY COUNCIL
CONCERNING THE REFINANCING OF POLLUTION
CONTROL FACII.ITIFS BY THE CTI'Y OF PRINCETON
FOR PSI ENERGY, INC.
WI-IEREAS, the Princeton Economic Development Commission ("Princeton EDC") met
on February 18, 1997, at 8:30 a.m., and conducted a public hearing on behalf of itself, the
Princeton Commoo Council and Uus County Council and considered adoption of a resolution
approving the issuance of bonds for the purpose of refunding bonds previously issued to refund �
bonds previously issued to finance a portion of PSI Energy, Inc.'s (the "Borrower") undivided
50.05% interest in pollution control and solid waste disposal facilities located at the Gibson
Generating Station, Unit 5 in an unincorporated azea of Gibson County, Indiana; and
WHEREAS, the Common Council of the City of Princeton will mest on February 18,
1997 to consider final adoption of an ordinance for the same purposes; and
WI-IEREAS, I.C. 3�7-12-22 provides that pollution control facilities that aze located
outside the corporate boundaries of a municipality may not be finance� by the municipality
without the consent of the fiscal body of the unit in which facilities are to be located; and
WHEREAS, Intemal Revenue Code Section 147(� requires approval of financings of
facilities by the govemmental 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
WHF.REAS, the County, its residents and their pmperty are not and will not be liable,
dire�dy or indirecdy, for or under the bonds to be issued to refund previously issued bonds;
NOW, TEIEREFORE, RESOLVED, that this County Council hereby consenu to and
approves the issuaoce of the City of Princeton, Indiana, Pollution Control Revenue Refunding
Bonds, 1997 Series (PSI Energy, Inc. Project) (the "Series 1997 Bonds") in an amount not to
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ezceed approzimately $35,000,000 for the Borrower for the purpose of refunding previously
issued bonds, which were issued to refund bonds issued to defray a portion of the cost of the
acquisition, construction and equipping of the Borrower's SO.OSY6 undivided interest in certain
pollution control and solid waste disposal facilities at the Borrower's Gibson Genetating Station,
Unit 5, such facilities being located in Montgomery Township on State Road 64 West,
approzimately four miles west of the intersection of State Road 64 and State Road 65, in an
unincorpoiated area of Gibson County, Indiana; and
RESOLVED FiJRTf�R, that this County Council hereby ratifies the acdon of the
Princeton EDC in holding the public hearing on behalf of this Gibson County Council pursuant
to Intemal Revenue Code § 147(�, and Uus Resolution shall constitute the appmval of the
elected public officials of Gibson County, Indiana, to the issuance of the reveciue bonds and
refunding of the bonds referenced above.
ATTFST:
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GIBSON COUNTY COUNCIL
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