Resolutions_2006-4i�3
RESOLUTION \O. DO�-• �
RESOLUTION OF THE COU1`TY COUICII. OF
GIBSO\T COUNTl'. �'DIANA
CONCERNLI'G THE FL\'A\rCL�`G A\'D REFL�'�\TCNG OF ECON0�4IC
DEVELOP��IENT FACILITIES BY THE CITY OF PRL�iCETON, L�TDI;INA
FOR GIBSO\' COtINTY AREA REHABII.ITr�TIO\ CE\� I'ERS, 1\'C., AS BORRO�VER
��'HEREAS, pursuant to Indiana Code 36-7-119 and 12, as supplemented and amended (the
"Act"), a fiscal body of a unit is authorized and empowered, among other thinas, ro(a) pro��ide funds
for the acquisition, construction, insta]lation and equipping of economic development facili[ies; (b)
issue its revenue bonds for the purposes set forth in the Acr, (c) secure such re��enue bonds by a
pled�e and assionment of revenues and other documents as provided for in the Act; and (d) adopt
resolutions and ordinances authorizing the issuance and sale of revenue bonds for the financin�,
reimbursement or refinancing of economic de��elopment facilities; and
R'I-IEREAS; Gibson County Area Rehabilitation Centers, Inc. (the "Borrower') has made
application to the Princeton Economic Development Commission (the "Commission") and the
Common Council (the "Common CounciP') of the City of Princeton, Indiana (the "City") for the
issuance of economic development revenue bonds, in an amount not [o exceed 580Q000 (the
"Bonds"), to finance and refinance an "economic development facility" (within the meanin� of the
Act) and the Commission and the Common Council will consider the adoption of Resolutions at
their respective meetinss. oi��ina preliminary appro��al to the financino and refinancina of economic
development facilities for the Borro���er located in the Cin� of Princeton, Indiana and outside the
corporate boundaries in Gibson County, Indiana, such economic de��elopment facilities consistin� of
the (a) refinancin� of certain taxable indebtedness orioinally incurred to finance the construction of
an approximately 2,�00 square foot �roup home facility of the Borro�ver located at 101� South Stout
Street, Princeton, Indiana, together with the purchase of fumiture and equipment to be utilized
therein, (b) financine of certain economic de��elopment facilities to be o�timed and operated by the
Borro���er consisting of (i) the acquisition, construction, installation and equippino of an
approximately ?,�00 square foot �roup home facilitp, toeether with the purchase of furniture and
equipment ro be utilized therein, located at 1� 12 South Jefferson Street, Princeton, [ndiana; (ii) the
acquisition, conswction, installation and equippin� of an approximately 3,�00 square foot office
buildin� for the Residential Department offices to be located in the Ciq� of Princeton, Indiana,
rogether with �he purchase of fumimre and equipment ro be utilized therein; (iii) reno��ations,
including but not limited to the installation of a new roof and the pa��in� of the parkin� lot, of an
approximately 12,�00 square foot facility located at Hiehway 64 �Vest, Princeton, Indiana, Gibson
Count�-. Indiana, to�ether with [he purchase of approximately 2 acres of land located adjacent
therero; and (iv) renovations, includino bu[ not limited to the installation of a new roof, ro an
approximately 3,000 square foot facility loca[ed at 320 Second Avenue, Princeton, Indiana ([he
"Projecr'); and
R'HEREAS, Section 22 of the .4ct provides that economic development facilities that are to be
located outside the corporate boundaries of a municipaliry may not be financed by the municipalitv
without the consent of the fiscal body of the unit in ���hich such facilities are to be located: and
�VHEREAS, the Borro�aer has requested that the Count�� Council (the "County Counci]") of
Gibson Counq�, Indiana (the "County') consen[ to and appro��e the financine of the Project by the
City in consideration of (a) the location of such Project being both within and outside of the
corporate boundaries of the City and (b) the Counq� not havine an established economic
developmen[ commission in accordance with the provisions of the Act;
NO«', THEREFORE, BE IT RESOLVED, that the Countv Council, being properly com�ened,
herebv consents to and appro��es, in accordance �vith Section 22 of the Act, the financin� of the
Project pursuant to the pro��isions of the Act by the City; y
FURTHER RESOLVED, that the County Council hereby authorizes the Commission (or their
designated public hearine officer) to hold a public hearin� pursuant to Section 147(� of the Internal
Revenue Code of 1956, as amended, on behalf of the Counq� Council.
This Resolution shall be in full force and effect upon compliance with Indiana Code 36-2-4
et se�.
,appro��ed and signed this 13th day of June 2006.
(Seal)
�TI�EST:
�4arv Kev. ,� � o
Gibson Cou [ �, Ind a
icB�2�,sr,o�su.�
I\
�, �/�-C�
Tony \Volf President
Gibson Counq� Council
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3�3
STATE OF �1rDI.ANA
)SS:
COIJ�'TY OF GIBSO�' )
L �Iar�� Key, �uditor of Gibson Counq�, Indiana, do hereby certify the above and foreeoin� is a
full, true, and comple[e copy of Resolution \'o. o2o6L- 5� passed by the County Council of
Gibson Counq�, Indiana on the 13th day of June ?006, by a vote of % raYES and O NAYS,
�vhich �aas si�ned by the President of the County Counci] on the 13th day of June 2006, and now
remains on file and on record in my office.
�VIT\iESS my hand and the official seal of Counq�Council of the Gibson County, Indiana, this
13th dav of June ?006.
Mary Key,. ito
Gibson Cou , ndiana
JCB/RESrWii�ri
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