The taxpayers of the City of Warsaw Redevelopment District (the “District”) are hereby notified that on September 24, 2018, the City of Warsaw Redevelopment Commission (the “Commission”), the governing body of the District, did adopt a Resolution (the “Commission Resolution”) determining that the Commission will take all actions necessary to enter into a lease (the “Lease”) with the Warsaw Redevelopment Authority (the “Authority”), which in turn will allow the Authority to issue lease rental revenue bonds (the “Bonds”), payable from the lease rentals received from the Commission pursuant to the terms of the Lease. The Bonds shall be issued in one (1) or more series or issues, in an aggregate issued amount not to exceed Seven Million Dollars ($7,000,000), for the purpose of procuring funds to pay for all or a portion of the costs of the construction and installation of sewage utility collection improvements and related road improvements to the following streets located in the City: Anchorage Road, CR 200N, Pound Drive W., Pound Drive N., Cessna Road, Boeing Road, and Biomet Drive, Bell Drive, North Rainbow Drive and Douglas Road as more fully described in the Commission Resolution.
The proposed Lease will have a term ending not longer than twenty-five (25) years from the date of acquisition of any of the leased premises set forth in the Lease, with an annual lease rental not to exceed Eight Hundred Thousand Dollars ($800,000) payable in semiannual installments.
This Notice is being provided pursuant to I.C. §6-1.1-20-5.
