11-22-2021 FINAL Agenda Packet - Laserfiche WebLink

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9 expressly waived and released as a condition of and consideration for the execution and delivery of the Financing Agreement and the issuance, sale and delivery of the Bonds SECTION XV.No Liability. No stipulation, obligation or agreement herein contained or contained in the Financing Documents, the Bonds or in any other agreement or document executed on behalf of the City shall be deemed to be a stipulation, obligation or agreement of any member of the Common Council, or any officer, agent or employee of the City in his or her individual capacity, and no such member of the Common Council, officer, agent or employee shall be personally liable on the Bonds or be subject to personal liability or accountability by reason of the issuance thereof. SECTION XVI.Severability. If any section, paragraph or provision of this Ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or provision shall not affect any of the remaining provisions of this Ordinance. SECTION XVII.Open Meetings. It is hereby determined that all formal actions of the Common Council relating to the adoption of this Ordinance were taken in one or more open meetings of the Common Council, that all deliberations of the Common Council and of its committees, if any, which resulted in formal action, were in meetings open to the public, and that all such meetings were convened, held and conducted in compliance with applicable legal requirements, including Indiana Code 5-14-1.5, as amended. SECTION XVIII.Further Authorizations. The Mayor, the Clerk, the Controller and any other officer of the City are hereby authorized and directed, in the name and on behalf of the City, to execute, attest and deliver such further instruments and documents, and to take such further actions, in the name of the City as in their judgment shall be necessary or advisable in order fully to consummate the transactions described herein and carry out the purposes of this Ordinance, and any such documents heretofore executed and delivered and any such actions heretofore taken, be, and hereby are, ratified and approved. SECTION XIX.Declaration of Official Intent. The Common Council hereby declares its official intent, to the extent permitted by law, to issue the Bonds in an amount not to exceed the maximum aggregate principal amount authorized herein, and to reimburse costs of the Project consisting of the expenditures from proceeds of the sale of such Bonds. SECTION XX.Transfer of Leased Premises. The Common Council hereby finds and determines that the transfer of the Leased Premises from the City to the Building Corporation for no consideration pursuant to Indiana Code 36-1-11-8, to provide for the lease of the Leased Premises by the Building Corporation to the Redevelopment Commission pursuant to Indiana Code 36-7-14-25.2, is in the best interests of the City and its citizens. The Common Council approves of the transfer of all of the City’s interest to the Leased Premises to the Building Corporation. The Mayor, the City Clerk, the Board of Public Works, and the Building Corporation are hereby authorized to execute and attest, respectively, such instruments or documents and to take such other action that may be necessary to effectuate the transfer of the Leased Premises to the Building Corporation as authorized herein.