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ORDINANCE NO. 05-01-08 AN ORDINANCE AMENDING ORDINANCE NO. 08-01-07 ANNEXING CERTAIN TERRITORY TO THE TOWN OF SILVER LAKE, INDIANA WHEREAS, The Town Council of the Town of Silver Lake, Indiana, ("Town") adopted Ordinance No. 08-01-07 on August 14, 2007, attempting to annex certain territory to the Town; and, WHEREAS, an copy of Ordinance 08-01-07 as originally adopted is attached hereto as Exhibit A; and, WHEREAS, a remonstrance has been filed to Ordinance No. 08-01-07 which is pending in Kosciusko Circuit Court as Case Number 43C01-0711-MI-1276 (the "Remonstrance"); and, WHEREAS, the Town has negotiated a settlement with the leaders of the remonstrance effort, which settlement is attached hereto as Exhibit B; and, WHEREAS, the Town has determined that the terms of Ordinance No. 08-01-07 should be amended to reflect the commitments and obligations set forth in Exhibit B. NOW, THEREFORE, BE IT ORDAINED, BY THE TOWN COUNCIL OF THE TOWN OF SILVER LAKE, INDIANA, AS FOLLOWS: 1. This Amendment to Ordinance No. 08-01-07 shall only take effect upon the issuance by the Kosciusko Circuit Court in the Remonstrance of a final order no longer subject to appeal affirming Ordinance No. 08-01-07 as amended by this Amendment. Unless and until such order is issued, Ordinance No. 08-01-07 shall continue to be in force and effect as originally enacted. 2. The effective date of the annexation provided by Ordinance No. 08-01-07 shall be two (2) years following the date of the order of the Court described in Paragraph 1 of this Ordinance. 3. A tax abatement program for the annexation territory subject to Ordinance No. 08-01-07 shall be established, whereby seventy-five percent (75%) of the property taxes for municipal purposes shall be abated in the first year following the effective date of the annexation, fifty percent (50%) of the property taxes for municipal purposes shall be abated in the second year following the effective date of the annexation, and thereafter there shall be no further abatement of property taxes for municipal purposes. 4. To the extent the provisions of Ordinance No. 08-01-07 as originally enacted are expressly modified by Exhibit B, Ordinance No. 08-01-07 is hereby amended. Otherwise, the provisions of Ordinance No. 08-01-07 shall remain in effect as originally adopted. Passed by the Town Council of the Town of Silver Lake, Indiana, this 13th day of May, 2008. Town Council Town of Silver Lake, Indiana Gale Owens, President Linda Baker, Council Member Ronald Jones, Council Member ATTEST: Angela Glass, Clerk-Treasurer j28
