TITLE 26
ECONOMIC DEVELOPMENT

ARTICLE 1
DEPARTMENT OF ECONOMIC DEVELOPMENT

Economic Development Commission. 

Creation of Economic Development Commission.  WHEREAS, Indiana Code 18-6-4.5-1, as amended by the acts of 1979 provides that areas in the State of Indiana have insufficient employment opportunities, insufficient tax basis, insufficient cites developed for industrial, commercial and residential use, insufficient diversification of economic development facilities and provides for financing of projects to remedy the insufficiencies as economic development facilities, and;

WHEREAS, Indiana Code 18-6-4.5-4 provides for the creation of a department of development and a commission to control the department of development upon the request of the Board of County Commissioners, and;

WHEREAS, the DeKalb County Commissioners have requested the DeKalb County Council to establish a department of development.

NOW, THEREFORE, BE ORDAINED BY THE DEKALB COUNTY COUNCIL as follows:

1. There is hereby created a department of development.

2. The department of development shall be under the control of a commission to be known as "DeKalb County Development Commission", which Commission shall be composed of three members.

3. The members of the Commission shall be appointed by the DeKalb County Commissioners as follows:

Economic Development Commission Members.  WHEREAS, the DeKalb County Economic Development Commission consists of three (3) members, and;

WHEREAS, the members of the DeKalb County Economic Development have been Joe W. Shelton, Paul Trausch and Ronald Dicke, and;

WHEREAS, Joe Shelton's term expired February 1, 1995, Ron Dicke's term expired February 1, 1996 and Paul Trausch's term will expire February 1, 1998, and;

WHEREAS, the County Council nominates Ron Walter to a 4 year term which was to begin February 1, 1995;

NOW THEREFORE, the County Council approves the nomination and appointment of Ron Walter to the DeKalb County Economic Development Commission for a term which shall expire February 1, 1999.

(Res. 96-1A, passed February 5, 1996)

Designation of Revitalization Areas. WHEREAS, an overall Economic Development Program (OEDP) has been prepared by the DeKalb County Overall Economic Development Committee, and

WHEREAS, the OEDP has been prepared in a complete and correct manner and meets the requirements of the Economic Development Administration of the U.S. Department of Commerce.

THEREFORE, BE IT RESOLVED that the DeKalb County Board of Commissioners does hereby authorize the submission of the OEDP to the U.S. Department of Commerce, Economic Development Administration and does hereby request to be designated as a Redevelopment District.

(Res. 89-1, passed August 14, 1989)

Chapter 2
Economic Development Projects

YMCA Project First Mortgage Revenue Bonds. WHEREAS, the County of DeKalb, Indiana (the "County"), is a municipal corporation and political subdivision of the State of Indiana and by virtue of Indiana Section 36-7-12-1 et seq., as amended (the "Act"), is authorized and empowered to adopt this ordinance (this "Bond Ordinance") and to carry out its provisions; and

WHEREAS, Young Men's Christian Association of DeKalb County, Inc., an Indiana nonprofit corporation (the "Borrower"), has agreed to acquire, construct and equip certain economic development facilities DeKalb County Indiana, including the construction and equipping of a full service YMCA facility on approximately 12 acres of land on North Street in Auburn, Indiana, which facilities will include a full gymnasium, 6-lane Olympic-style swimming pool, child care center, nursery school center, weight room and aerobic room, an outdoor running track/fitness trail, two soccer fields, a play area for the nursery school/day care programs, parking lot, offices and common areas (the "Project"), if the County will finance a portion of the cost of the Project with the proceeds from the sale of its County of DeKalb, Indiana, Economic Development First Mortgage Revenue Bonds, Series 1997 (YMCA of DeKalb County Project), in the aggregate principal amount of $1,125,000 (the "Bonds"); and

WHEREAS, the DeKalb County Economic Development Commission has performed all actions required of it by the Act preliminary to the adoption of this Bond Ordinance and has approved and forwarded to this County Council the forms of (1) the Bond Purchase and Loan Agreement (the "Loan Agreement"), dated as of June 1, 1997, among the County, the Borrower,

Peoples Federal Savings Bank of DeKalb County, The Auburn State Bank, Campbell & Fetter Bank, The Garrett State Bank, The Knisely National Bank of Butler, NBD Bank, N.A. and Norwest Bank Indiana, N.A. (the "Original Purchasers") and Peoples Federal Savings Bank of DeKalb County as Agent (the "Agent") providing for the issuance and sale of the Bonds by the County, the loan by the County to the Borrower of the proceeds therefrom and securing the payment of the Borrower's obligations to the County; (2) the form of the Bond (contained in the Loan Agreement); and (3) this Bond

NOW, THEREFORE, BE IT ORDAINED BY THE COUNTY COUNCIL OF THE COUNTY OF DEKALB, INDIANA, THAT:

Section 1. Findings; Public Benefits. The County Council hereby finds and determines that the Project is an "economic development facility" as that phrase is used in the Act; that the acquisition, construction and equipping of the Project will increase diversifications of economic development in and around the County, will improve and promote the economic stability, development and welfare in and around the County; and that the public benefits to be accomplished by this Bond Ordinance are greater than the cost of public services (as that phrase is used in the Act) which will be required by the Project.

Section 2. Authorization of the Bonds. In order to pay a portion of the cost of the Project, the Bonds are hereby authorized to be issued, sold and delivered. Any additional costs of the Project will be paid for by the Borrower.

Section 3. Terms of the Bonds. The Bonds shall (i) be in the aggregate principal amount of $1,125,000, (ii) be dated as of June 1, 1997; (iii) be executed at or prior to the closing date by the manual or facsimile signatures of the County Commissioners and the Auditor of the County; (iv) bear interest from the date of delivery thereof at rates of interest as set forth in the Loan Agreement, but with an average rate of interest not greater than 7.0%; (v) mature at the time and in the amounts set forth in the Loan Agreement and shall have a stated maturity date of January 1, 2008; (vi) be issuable in denominations of $5,000 or whole multiples thereof, (vii) be issued only in fully registered form, (viii) be payable through such medium and at such places as provided therein, and (ix) be subject to optional and mandatory redemption as provided in the Loan Documents. The Bonds and the interest thereon do not and shall never constitute an indebtedness of, or a charge against the general credit or taxing power of, the County, but are limited obligations of the County payable solely from revenues and other amounts derived from the Loan Documents. Forms of the Loan Documents are before this meeting and are by this reference incorporated in this Bond Ordinance, and the Auditor is hereby directed to insert them into the minutes of the County Council and to keep them on file.

Section 4. Sale of the Bonds. The County Commissioners and the Auditor are hereby authorized and directed, on behalf of the County, to sell the Bonds to or upon the order of the Original Purchasers pursuant to the Loan Agreement at a price of $1,125,000 representing 100% of the par value thereof, payment of which shall be made in accordance with the provisions of the Loan Agreement.

Section 5. Loan Agreement. In order to provide for the commitment of the County to sell the Bonds and to provide for the loan of the proceeds of the Bonds to the Borrower and the payment by the Borrower of amounts sufficient to pay the principal of, premium, if any, and interest on the Bonds, and in order to assign the County's rights under the aforementioned loan to the Original Purchasers, the County Commissioners and the Auditor are hereby authorized and directed to execute and deliver, in the name of and on behalf of the County, the Loan Agreement in substantially the form submitted to this County Council, which is hereby approved in all respects.

Section 6. Bonds. The County Commissioners and the Auditor are hereby authorized and directed to execute and deliver, in the name of and on behalf of the County, the Bonds in substantially the form submitted to this County Council, which is hereby approved in all respects.

Section 7. Execution. The County Commissioners and the Auditor are hereby authorized and directed to execute and deliver, in the name and on behalf of the County, the Bonds (in the form contained in the Loan Agreement), and the Loan Agreement. The County Commissioners and the Auditor are hereby authorized, without further approval of the County Council or the DeKalb County Economic Development Commission, to approve such changes in the Loan Documents as may be permitted by Act, such approval to be conclusively evidenced by their execution thereof.

Section 8. Designation as Qualified Obligations. The County hereby designates the Bonds to be qualified obligations pursuant to Section 265(b)(3) of the Code relating to the disallowance of 100% of the deduction for interest expense allocable to tax-exempt obligations acquired after August 7, 1986.

Section 9. General. The County Commissioners and the Auditor are, and each of them is, hereby authorized and directed, in the name and on behalf of the County, to execute any and all agreements, documents and instruments, perform any and all acts, approve any and all matters, and do any and all things deemed by them, or either of them, to be necessary or desirable in order to carry out and comply with the intent, conditions and purposes of this Bond Ordinance (including the preambles hereto and the documents mentioned herein), the acquisition, construction and equipping of the Project by the Borrower, the issuance and sale of the Bonds, and the securing of the Bonds under the Loan Documents.

Section 10. Binding Effect. The provisions of this Bond Ordinance and the Loan Documents to which the County is a party shall constitute a binding contract between the County and the holders of the Bonds, and after issuance of the Bonds this Bond Ordinance shall not be repealed or amended in any respect which would adversely affect the rights of the holders of the Bonds as long as the Bonds or interest thereon remains unpaid.

Section 11. Repeal. All ordinances or parts of ordinances in conflict herewith are hereby repealed.

Section 12. Effective Date. This Bond Ordinance shall be in full force and effect immediately upon its adoption by the County Council.

Section 13. Copies of Loan Documents on File. Two copies of the Loan Documents incorporated into this Bond Ordinance were duly filed in the office of the Auditor and are available for public inspection in accordance with Indiana Code Section 36-1-5-4.

(Ord. 97-6, passed June 2, 1997)

County Road 15.  WHEREAS, the DeKalb County Commissioners desire to maintain and improve the County road system:

WHEREAS, the DeKalb County Commissioners believe this County road will improve traffic flow and is in need of repair:

NOW, THEREFORE, BE IT HEREBY RESOLVED that the Auditor of DeKalb County, Indiana, is directed to withdraw the amount of thirty thousand dollars ($30,000) from the DeKalb County Industrial Revolving Grant Fund Recovery proceeds and to use these funds for purposes of repairing County Road 15 from State Road 8 to Garrett City limits.

This Ordinance shall become effective after passage of the third reading as adopted by the DeKalb County Commissioners and the publication of this Ordinance, if any, thereafter as required by law.

(Ord. 97-7, passed June 2, 1997)

Greenhurst Estates, Inc. Economic Development.  WHEREAS, the Auburn Economic Development Commission established pursuant to the acts of the General Assembly of the State of Indiana for 1965, chapter 402 and all acts amendatory and supplemental thereto known as "Municipal Economic Development Act of 1965" has filed with the DeKalb County Council its Inducement Resolution, and

WHEREAS, the facilities to be constructed by the City of Auburn pursuant to Public Law No. 182 of the acts of the General Assembly of !he State of Indiana for 1973, as amended, will be located on real estate, part of which real estate lies outside of the City Limits of the City of Auburn in the Northeast Quarter of Section Twenty-nine (29), Township Thirty-four (34) North, Range Thirteen (13) East in DeKalb County, Indiana, and

WHEREAS, the DeKalb County Council now finds that a need exists for such economic development and that such economic development will provide additional employment opportunities and further serve the public purposes under the act and will be of benefit to the welfare of the City,

NOW, THEREFORE, be it resolved that the DeKalb County Council now approves the financing of such economic development and the leasing of the facilities thereto to Greenhurst Estates, Inc., by the issuance of one or more series of revenue bonds of the City of Auburn, DeKalb County, Indiana, pursuant to Public Law No. 182 of the acts of the General Assembly of the State of Indiana for 1973 as amended.

(Res. 100476, passed October 4, 1976)

Mid-America Electronics.  WHEREAS, the County Commissioners have jurisdiction over the real estate in the name of the County of DeKalb, State of Indiana, and vested with the authority to convey title of said real estate, and

WHEREAS, the County Commissioners have determined, as a result of an investigation of the title to a certain strip of land encompassing 0.214 acres lying between the lands of the County of DeKalb and lands formerly owned by Mid-American Electronics Corporation located in the Northeast Quarter and the Southeast Quarter of Section Thirty Two (32), Township Thirty Four (34) North, Range Thirteen (13) East, Union Civil Township, DeKalb County, Indiana (being more particularly described in the attached legal description) (CAN BE FOUND IN RESOLUTION FILED IN AUDITOR'S OFFICE); and

WHEREAS, it has been determined that there have been some erroneous descriptions heretofore used in various conveyances involving the property held by Mid-American Electronics Corporation and predecessors in interest as well as the County and DeKalb and predecessors in interest, and

WHEREAS, said County Commissioners, as a result of a survey made and provided by the surveyor of DeKalb County, Indiana, David K. Wolf, have determined it is to the best interest of all parties that the cloud on the title to said lands of Mid-American Electronics Corporation be removed, now resolve that the Board of Commissioners of the County of DeKalb convey and quit-claim to the successor in interest of Mid-American Electronics Corporation, the tract of land as set forth in the legal description attached hereto.

(Res. 78-1, February 6, 1978)

Tri-State Agri-Traders.  WHEREAS, DeKalb County, Indiana (the "Issuer") is authorized by IC 18-6-4.5 (the "Act") to issue revenue bonds for the financing of economic development facilities, the funds from said financing to be used for the acquisition, construction and equipping of said facilities, and said facilities to be either sold or leased to a company or directly owned by a company; and

WHEREAS, Frank E. Albright and Harold L. Bandelier (collectively, the "Applicant") has advised the DeKalb County Economic Development Commission (the "Commission") and the Issuer that it proposes that the Issuer either acquire, construct and equip an economic development facility and sell or lease the same to the Applicant or loan proceeds of an economic development financing to the Applicant for the same, said economic development facility to be a 23,000 square foot John Deere dealership facility for the retail sale of farm machinery equipment, including the real estate on which it is located and the machinery and equipment to be installed therein, to be located on U.S. Highway 6, immediately West of Waterloo, Indiana, on an approximate 14 acre tract of land ("Project"); and

WHEREAS, the diversification of industry and increase in job opportunities (5 new jobs) to be achieved by the construction and equipping of the Project will be of public benefit to the health, safety and general welfare of the Issuer and its citizens; and

WHEREAS, the Applicant will lease of sublease the Project to Tri-State Agri-Traders, Inc.; and

WHEREAS, having received the advice of the DeKalb County Economic Development Commission, it would appear that the financing of the Project would be of public benefit to the health, safety and general welfare of the Issuer and its citizens; and

WHEREAS, the acquisition and construction of the facility will not have an adverse competitive effect on any similar facility already constructed or operating in DeKalb County, Indiana;

NOW THEREFORE, BE IT RESOLVED BY THE County Council of DeKalb County, as follows:

Vulcraft Grant.  Be it resolved that Robert Wilder, president of the Commissioners, be and is authorized to execute any and all documents on behalf of DeKalb County in connection with the Industrial Development Infrastructure Vulcraft Grant.

(Res. 111885a, passed November 18, 1985)

Paragon Steel First Mortgage Revenue Bonds.  WHEREAS, the county of DeKalb, Indiana (the "Issuer") is authorized by IC 36-7-12 (the "Act") to issue revenue bonds for the financing of economic development facilities, the funds from said financing to be used either directly or by loan to a company for the acquisition, construction and equipping of said facilities and said facilities to be either owned by a company or leased to a company or sold to a company; and

WHEREAS, PST Investments, LLC, and Indiana limited liability company with its principal offices currently located in Fort Wayne, Indiana (the "Applicant") advised the DeKalb County Economic Development Commission that it proposed that the Issuer acquire and equip an economic development facility and sell or lease the same to the Applicant or that the Issuer loan the proceeds of such a financing to the Applicant for such purposes; said economic development facility to be a 80,000 square foot manufacturing facility to be located on a 30 acre tract east of new County Road 206 and south of County Road 42, Butler, Indiana 46721, together with new manufacturing equipment and issuance costs (the "Project"); and

WHEREAS, the diversification of economic development and increase in job opportunities (approximately 18 new jobs at start-up and approximately 15 additional jobs within 3 years) to be achieved by the acquisition and equipping of the Project will be of public benefit to the health, safety and general welfare of the Issuer and its citizens; and

WHEREAS, having received the advice of the DeKalb County Economic Development Commission, it would appear that the financing of the Project would be of public benefit to the health, safety and general welfare of the Issuer and its citizens.

NOW, THEREFORE, BE IT RESOLVED BY THE DEKALB COUNTY COUNCIL:

Section 1. The Council further finds, determines, ratifies and confirms that the promotion of diversification of economic development and job opportunities in DeKalb County, Indiana, is desirable to preserve the health, safety, and general welfare of the citizens of the Issuer; and that it is in the public interest that the DeKalb County Economic Development Commission and said Issuer take such action as it lawfully may to encourage economic diversification and promotion of job opportunities in and near said Issuer.

Section 2. The Council further finds, determines, ratifies and confirms that the issuance and sale of revenue bonds in an amount not to exceed $3,400,000 of the Issuer under the Act for the acquisition, construction and equipping of the Project and the sale or leasing of the Project to the Applicant or the loaning of the proceeds of such a financing to the Applicant for such purposes will serve the public purposes referred to above, in accordance with the Act.

Section 3. In order to induce the Applicant to proceed with the acquisition, construction and equipping of the Project, the Council hereby finds, determines, ratifies and confirms that (I) it will take or cause to be taken such actions pursuant to the Act as may be required to implement the aforesaid financing, or as it may deem appropriate in pursuance thereof, provided that all of the foregoing shall be mutually acceptable to the Issuer and the Applicant; (ii) it will adopt such ordinances and resolutions and authorize the execution and delivery of such instruments and the taking of such action as may be necessary and advisable for authorization, issuance and sale of said economic development bonds.

Section 4. The Issuer intends this inducement resolution to satisfy the requirements of the Internal Revenue Code of 1986, as amended and the regulations promulgated thereunder (the "Code") regarding the taking of "official action" by the Issuer and with respect to having an official intent to issue its revenue bonds for the purpose of reimbursing costs incurred with respect to the Project after the date of the adoption of this resolution.

Section 5. All costs of the Project incurred after passage of this inducement resolution by the DeKalb County Council, including reimbursement or repayment to the Applicant of moneys expended by the Applicant for planning, engineering, interest paid during the construction, underwriting expenses, attorney and bond counsel fees, acquisition, construction and equipping of the Project will be permitted to be included as part of the bond issue to finance said Project, and the Issuer will thereafter either sell or lease the same to the Applicant or loan the proceeds of such financing to the Applicant for the same purposes.

Section 6. This Resolution shall be in force and effect immediately upon its adoption by the County Council.

(Res. 97-9, passed June 2, 1997)

Bowman Aviation.  WHEREAS, the DeKalb County Council recognizes the need to stimulate economic growth and to maintain a sound economy within DeKalb County, and whereas DeKalb County Council recognizes the desire and ability of providing incentives to the development of unused land located in DeKalb County or land that has become derelict over a period of time, resulting in secession of growth and lack of development and whereas the DeKalb County Council recognizes that it would be beneficial to the County to designate certain areas where development growth has ceased or deteriorated as economic development areas in order to stimulate the use of said property by making tax abatement available, and whereas Indiana Law, namely, I.C. 6.11-12.1-1 through I.C. 6.1-12.1-5.1 provides for a method whereby real estate can be designated as an economic revitalization area in order to stimulate development of said areas by making tax abatements available. Now, therefore, it is resolved by the DeKalb County Council as follows:

ARTICLE 2
DEKALB COUNTY REDEVELOPMENT COMMISSION

Chapter 1.
Redevelopment Commission

Creation of Redevelopment Commission.  WHEREAS, the County Council and the County Commissioners of DeKalb County, Indiana desire to provide for the completion of redevelopment or economic development projects in DeKalb County, Indiana (the "County"), including such redevelopment or economic development projects which may be beneficial to or assist with the construction and development of a thin slab casting steel mill and related facilities which will be completed by Steel Dynamics, Inc., in the County;

WHEREAS, I.C. 36-7-14 provides that a unit may establish a department of redevelopment controlled by a board of five (5) members which may undertake such redevelopment or economic development projects; and

WHEREAS, the County Council and the County Commissioners desire to establish a department of redevelopment;

NOW, THEREFORE BE IT ORDAINED by the DeKalb County Council and the DeKalb County Commissioners in joint session, DeKalb, Indiana, as follows:

County Commissioners Directions.  WHEREAS, DEKALB COUNTY COMMISSIONERS have elected to implement the various provisions of the Indiana Code to promote economic development and redevelopment and therefore it is necessary for the County Attorney to prepare ordinances to create a Redevelopment Commission and Redevelopment Authority and to proceed with those agencies to implement the various provisions of the Indiana Code to promote economic development.

NOW THEREFORE BE IT RESOLVED: The County Attorney is directed to prepare ordinances necessary to implement the provisions of the Indiana Code to promote economic development and redevelopment and submit those ordinances to the County Council and the County Commissioners for approval and if approved the County Attorney is directed to proceed with the formation of the county agencies necessary to accomplish the purposes intended, including but not limited to the creation of a DeKalb County Economic Redevelopment Commission and a DeKalb County Economic Redevelopment Authority, and, the County Attorney shall interview the necessary professional assistants to accomplish this stated purpose including additional legal counsel, financial consultants, underwriters and industrial development counselors to assist those agencies as provided by law, in all matters of economic development and redevelopment as provided by law.

(Res. 022894, February 28, 1994)

Redevelopment Commission Members. 

Designation of DeKalb County as a Redevelopment Area.  WHEREAS, DeKalb County has experienced long term deterioration of its economy as reflected by high rate of long term unemployment and low growth of population, income, and employment; and,

WHEREAS, the Public Works and Economic Development Act of 1965, as amended, provides for the designation of counties as Redevelopment Areas based on long term economic deterioration; and,

WHEREAS, the Economic Development Administration has indicated that DeKalb County meets the statistical distress criteria for its long Term Economic Deterioration program; and,

WHEREAS, DeKalb County has been working with the Indiana Office of the Economic Development Administration throughout 1985, resulting in the completion of an Overall Economic Development Program, which was submitted to EDA in January, 1986;

THEREFORE BE IT RESOLVED: That the DeKalb County Board of Commissioners formally request that the Economic Development Administration designate DeKalb County as a Redevelopment Area on the basis of Long Term Economic Deterioration.

(Res. 86-1, passed February 24, 1986)

Plan Commission Economic Plan Ratified.  WHEREAS, the DeKalb County Redevelopment Commission (the "Commission"), the governing body of the DeKalb County Department of Redevelopment (the "Department"), pursuant to I.C. 36-7-14-1 et seq. (the "Act"), on July 7, 1994, approved and adopted its Resolution No. 1-1994 designating and declaring the DeKalb County Economic Development Area (the "Area"), approving an Economic Development Plan and establishing an Allocation Area for purposes of tax increment financing; and

WHEREAS, the DeKalb County Plan Commission, which is the duly designated and acting official planning body for DeKalb County, Indiana, on July 20, 1994, adopted its Resolution No. 1-1994 issuing its written order approving the Declaratory Resolution and the Economic Development Plan, and certifying that the Declaratory Resolution and Economic Development Plan conform to the plan of development for DeKalb County (the "Plan Commission Order"); and

WHEREAS, 16 of the Act prohibits the Commission from proceeding until the Plan Commission order is approved by the County executive, and

WHEREAS, the Board of Commissioners of the County is the County executive and now desires to approve the Plan Commission order to permit the Commission to proceed with the economic development of the Area;

NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the County of DeKalb, as follows:

Maximum Period of Tax Deductions.  WHEREAS, the County Council of DeKalb County, Indiana recognizes the need to stimulate redevelopment or rehabilitation of certain areas located within County boundaries; and

WHEREAS, the County Council of DeKalb County, Indiana, further recognizes that the general health and welfare of its citizens would best be served by stimulating growth of existing businesses and industries located within the corporate boundaries;

WHEREAS, further stagnation of the businesses and industries located within the County boundaries constitute a menace to the social and economic interests of the County of DeKalb, Indiana , and its inhabitants; and

WHEREAS, it will be of public utility and benefit to foster redevelopment and rehabilitation of businesses and industries located within the county limits; and

WHEREAS, as certain areas within DeKalb County have become undesirable for or impossible of normal development and occupancy because of lack of development, cessation of growth, deterioration of Improvements or character of occupancy, age, obsolescence, substandard buildings and other factors which have impaired values and prevented normal development and use of property.

NOW THEREFORE, BE IT RESOLVED by the County Council of DeKalb County, Indiana, that;

Lease between DeKalb County Redevelopment Authority and DeKalb Redevelopment Commission.  WHEREAS, the DeKalb County redevelopment Authority (the "Authority") at a meeting on August 23, 1994 adopted Resolution No. 2-1994, which approved a proposed lease between the Authority and the DeKalb County Redevelopment Commission (the "Commission") to be dated as of September 1, 1994, for certain local public improvements to be located within the DeKalb County Economic Development Area (the "Area") established by the Commission in its Resolution No. 1-1994 adopted on July 14, 1994, including certain projects identified in the economic development plan for the Area approved by the Commission in said Resolution (the "Projects"), and directed the Secretary of the Authority to file a copy of said lease, as approved, with the Commission; and

WHEREAS, the Commission, at a meeting on August 23, 1994, approved the proposed lease, scheduled a public hearing on said lease to be held on September 13, 1994, pursuant to IC 36-7-14-25.2, and authorized the publication of a notice of public hearing on said lease pursuant to IC 5-3-1; and

WHEREAS, the County Council desires to approve said lease, pursuant to IC 36-7-14-25.2, which provides that any lease approved by a resolution of the Commission must be approved by an ordinance of the fiscal body of the unit.

NOW, THEREFORE, BE IT ORDAINED BY THE DEKALB COUNTY, INDIANA, COUNTY COUNCIL AS FOLLOWS:

Pledge of CEDIT Tax to Redevelopment Commission.  WHEREAS, the County of DeKalb, Indiana (the "County"), has previously entered into a Memorandum of Understanding, dated as of the 20th day of June, 1994 (the "MOU"), with the State of Indiana, the City of Butler, Indiana (the "City"), the DeKalb County Redevelopment Commission (the "Commission"), the DeKalb County Redevelopment authority (the "Authority") and Steel Dynamics, Inc. ("SDI") pursuant to which SDI has agreed to locate a steel mini-mill and related facilities in the county and pursuant to which the governmental entities referred to herein have agreed to provide certain economic incentives to facilitate the location of the steel mini-mill in the County; and

WHEREAS, the Commission has previously designated and declared an area in the County to be known as the DeKalb County Economic Development Area (the "Area") and has also designated the Area as an allocation area for purposes of tax increment finance; and

WHEREAS, the Authority has been created pursuant to I.C. 36-7-14.5 as a separate body, corporate and politic, and as an instrumentality of the County to finance local public improvements for lease to the Commission (the "Commission"); and

WHEREAS, the Authority intends to issue bonds pursuant to I.C. 36-7-14.5-19 to be known as the "DeKalb County Redevelopment Authority, DeKalb County, Indiana, Series 1995 A Bonds (Mini-Mill Local Public Improvement Project) (the "Bonds"), the proceeds of which are to be used to finance the costs of: (i) constructing and equipping a pollution control facility to be operated in conjunction with the operation of a steel mini-mill to be constructed in the Area by SDI and (ii) issuance of the Bonds (the "Project"); and

WHEREAS, the Authority intends to lease the Project to the Commission pursuant to a lease dated as of September 1, 1994 (the "Lease"), and entered into by the Commission pursuant to the provisions of I.C. 36-7-14-25.2; and

WHEREAS, pursuant to the Lease, the Commission is obligated to make semi-annual Lease rental payments to the Authority, and, prior to the issuance of the Bonds, the Commission will pledge to levy a special tax upon all of the taxable property in the County of DeKalb Redevelopment District in a total amount, together with all other funds available for such purpose, sufficient to make such Lease rental payments; and

WHEREAS, the Commission anticipates that sufficient other funds will be available to the Commission to make the required Lease rental payments with such other funds being derived from tax increment ("TIF") revenues allocated to the Commission and generated in the Area and County Economic Development Income Tax ("CREDIT") revenues received from the County and the City of Butler, Indiana; and

WHEREAS, the Redevelopment Commission has requested that the County pledge its share of the CEDIT revenues it expects to receive beginning in 1995 and during the period in which the commission in required to make Lease rental payments to the Authority to permit the Commission to make the required Lease rental payments to the Authority from TIF revenues and as much of the CEDIT revenues as may be necessary to avoid, if possible, the special tax levy to make the Lease rental payments; and

WHEREAS, the County anticipates that the City will adopt a resolution pledging fifty percent (50%) of its share of CEDIT revenues to the County pursuant to I.C. 6-3.5-7-15(a) (2) for the purpose of making the Lease rental payments; and

WHEREAS, I.C. 6-3.5-7-13.1(b) (2) permits the County to pledge its share of CEDIT revenues to the payment of lease rentals under any statute for a capital project and I.C. 36-7-14-25.5 permits the county to pledge revenues for the payment of lease rentals payable under I.C. 36-7-14-25.2;

NOW, THEREFORE, BE IT RESOLVED by the DeKalb County Board of County Commissioners, DeKalb County Indiana, as follows:

Chapter 2
Redevelopment Projects

Redevelopment Projects. 

Nucor Economic Revitalization Area.  WHEREAS, the County Council of DeKalb County, Indiana, recognizes the need to stimulate redevelopment and rehabilitation of certain areas located within the County; and

WHEREAS, the County Council of DeKalb County, Indiana, further recognizes that the general health and welfare of its citizens would best be served by stimulating growth of existing businesses and industries located within the County; and

WHEREAS, further stagnation of business and industry in the County constitutes a menace to the social and economic interests of the County and its inhabitants; and

WHEREAS, it is of public utility and benefit to foster redevelopment and rehabilitation of businesses and industries located within the County; and

WHEREAS, certain areas within DeKalb County have become undesirable for or impossible for normal development and occupancy because of a lack of development, cessation of growth, deterioration of improvements or other factors which have impaired values and prevents normal development and use of the property.

NOW THEREFORE BE IT RESOLVED by the County Council of DeKalb County, Indiana, that:

Steel Dynamics, Inc. Economic Revitalization Area. 

Inducement Resolution.  WHEREAS, the County of DeKalb has been requested by Steel Dynamics, Inc., Air Products & Chemicals, Inc., and Heidtman Steel, Inc. (the"Applicant") to find pursuant to I.C. 6-1.1-12.1-2 that the area described in Exhibit A (the "Area") is an Economic Revitalization Area; and

WHEREAS, the Area is located within the Jurisdiction of the DeKalb County Council for the purposes set forth in I.C. 6-1.1-12.1-2-; and

WHEREAS, the Applicants plan to construct in the Area a steel mini-mill and related facilities (the " Project"), and in support of their request, the Applicants have submitted to the Council an Application describing the Project (the "Application") and a Statement of Benefits related to each of the Applicants, which Statements of Benefits are attached as exhibits to the Application; and

WHEREAS, the Project will consist of the construction of new structures on the presently unimproved real estate (the "Redevelopment") and the installation of new manufacturing equipment acquired by the Applicants as owners for use in the direct production, manufacture, fabrication, assembly, processing, refining or finishing of other tangible personal property (the "Equipment"); and

WHEREAS, the improvement of the Area described in the Applications will be of public utility and will be to the benefit and welfare of all citizens and taxpayers of DeKalb County;

NOW, THEREFORE, BE IT RESOLVED, by the County Council of DeKalb County that, based on the information in the Application describing the proposed Project, the Council makes the following findings:

Confirmatory Resolution.  WHEREAS, the County of DeKalb has been requested by Steel Dynamics, Inc., Air Products & Chemicals, Inc., and Heidtman Steel Products, Inc. (the "Applicants")to find pursuant to I.C. 6-1.1-12.1-2 that the area described in Exhibit A (the "Area") is an Economic Revitalization Area;

WHEREAS, the Area is located within the jurisdiction of the DeKalb County Council for the purposes set forth in I.C. 6-1.1-12.1-2;

WHEREAS, the applicants plan to construct in the area a steel mini-mill and related facilities (the "Project), and in support of their request, the Applicants have submitted to the Council an Application describing the project (the "Application") and a Statement of Benefits related to each of the Applicants, which Statements of Benefits have been attached as exhibits to the Application;

WHEREAS, the Project will consist of the construction of new structures on the presently unimproved real estate (the "Redevelopment") and the installation of new manufacturing equipment acquired by the Applicants as owners for use in the direct production, manufacture, fabrication, assembly, processing, refining or finishing of other tangible personal property (the "Equipment");

WHEREAS, pursuant to I.C. 6-1.1-12.1-2, on August 11, 1994 the Council passed Resolution No. 94-2 (the "Declaratory Resolution") designating the Area an Economic Revitalization Area and granting real and personal property tax abatement in the Area for a period of ten (10) years;

WHEREAS, in compliance with I.C. 6-1.1-12.1-2.5, the Council published notice describing the adoption and substance of the Declaratory Resolution and stating that on the date hereof, the Council will hold a public hearing (the "Public Hearing") at which it will receive and hear all remonstrances and objections from interested persons, with respect to the Application and the Declaratory Resolution;

WHEREAS, in compliance with I.C. 6-1.1-12.1-2.5, on the date hereof the Council held the Public Hearing at which it received, heard and considered evidence concerning the Application and any remonstrances or objections with respect to the Application and the Declaratory Resolution; and

WHEREAS, pursuant to I.C. 6-1.1-12.1-2.5, the Council desires to take final action to confirm the Declaratory resolution;

NOW, THEREFORE, BE IT RESOLVED, by the County Council of DeKalb County that, based on the information in the Application describing the proposed Project and Council's consideration of evidence and any objections or remonstrances heard and received at the Public Hearing, the Council makes the following findings:

Affiliated Metals Company.  WHEREAS, the County of DeKalb has been requested by Affiliated Metals Company (the "Applicant") to find pursuant to I.C. 6-1.1-12.1-2 that the area described in Exhibit A (the "Area") is an Economic Revitalization Area;

WHEREAS, the Area is located within the jurisdiction of the DeKalb County Council for the purpose set forth in I.C. 6-1.1-12.1-2;

WHEREAS, the Applicants plan to construct in the Area commercial/industrial facility (the "Project"), and in support of their request, the Applicant has submitted to the Council an Application describing the Project (the "Application") and a Statement of Benefits related tot he Applicant, which Statement of Benefits has been attached as an exhibit to the Application;

WHEREAS, the Project will consist of the construction of new structures on the presently unimproved real estate (the "Redevelopment") and the installation of new manufacturing equipment acquired by the Applicant as owner for use in the direct production, manufacture, fabrication, assembly, processing, refining or finishing of other tangible personal property (the "Equipment");

WHEREAS, pursuant to I.C. 6-1.1-12.1-2, on the 7th day of August, 1995, the Council passed Resolution No. 95-5 the "Declaratory Resolution) designating the Area an Economic Revitalization Area indicating an intent to grant real and personal property tax abatement in the Area for a period of ten 10) years;

WHEREAS, in compliance with I.C. 6-1.1-12.1-2.2, the Council directed that notice be published describing the adoption and substance of the Declaratory Resolution and stating that on this date the Council would hold a public hearing (the "Public Hearing"). All remonstrances and objections from interested persons with respect to the Application and the proposed tax reduction are now heard.

WHEREAS, in compliance with I.C. 6-1.1-12.1-5, on this date, the Council has held the Public Hearing at which is received, heard and considered evidence concerning the Application and any remonstrances or objections with respect to the Application and the proposed tax reductions.

WHEREAS, pursuant to I.C. 6-1.1-12.1-2.5, the Council desires to take final action to confirm the tax reduction allowances.

NOW THEREFORE BE IT RESOLVED, by the County Council of DeKalb County that, based on the information in the Application describing the proposed Project and the Council's consideration of evidence and any objections or remonstrances heard and received at the Public Hearing, the Council makes the following findings:

Omni Source Corporation.  WHEREAS, the County of DeKalb has been requested by Omni Source Corporation (the "Applicant") to find pursuant to I.C. 6-1.1-12.1-2 that the area described in Exhibit A (the "Area") is an Economic Revitalization Area;

WHEREAS, the Area is located within the jurisdiction of the DeKalb County Council for the purpose set forth in I.C. 6-1.1-12.1-2;

WHEREAS, the Applicants plan to construct in the Area commercial/industrial facility (the "Project"), and in support of their request, the Applicant has submitted to the Council an Application describing the Project (the "Application") and a Statement of Benefits related to the Applicant, which Statement of Benefits has been attached as an exhibit to the Application;

WHEREAS, the Project will consist of the construction of new structures on the presently unimproved real estate (the "Redevelopment") and the installation of new manufacturing equipment acquired by the Applicant as owner for use in the direct production, manufacture, fabrication, assembly, processing, refining or finishing of other tangible personal property (the "Equipment");

WHEREAS, pursuant to I.C. 6-1.1-12.1-2, on the 7th day of August, 1995, the Council passed Resolution No. 95-6 (the "Declaratory Resolution) designating the Area an Economic Revitalization Area indicating an intent to grant real and personal property tax abatement in the Area for a period of ten (10) years;

WHEREAS, in compliance with I.C. 6-1.1-12.1-2.2, the Council directed that notice be published describing the adoption and substance of the Declaratory Resolution and stating that on this date the Council would hold a public hearing (the "Public Hearing"). All remonstrances and objections from interested persons with respect to the Application and the proposed tax reduction are now heard.

WHEREAS, in compliance with I.C. 6-1.1-12.1-5, on this date, the Council has held the Public Hearing at which is received, heard and considered evidence concerning the Application and any remonstrances or objections with respect to the Application and the proposed tax reductions.

WHEREAS, pursuant to I.C. 6-1.1-12.1-2.5, the Council desires to take final action to confirm the tax reduction allowances.

NOW THEREFORE BE IT RESOLVED, by the County Council of DeKalb County that, based on the information in the Application describing the proposed Project and the Council's consideration of evidence and any objections or remonstrances heard and received at the Public Hearing, the Council makes the following findings:

ARTICLE 3
DEKALB COUNTY REDEVELOPMENT AUTHORITY

WHEREAS, the County Council and the County Commissioners of DeKalb County, Indiana, desire to provide for the completion of redevelopment or economic development projects in DeKalb County, Indiana (the "County"), including such redevelopment or economic development projects which may be beneficial to or assist with the construction and development of a thin slab casting steel mill and related facilities which will be completed by Steel Dynamics, Inc., in the County;

WHEREAS, the County by ordinance of the DeKalb County Council and the DeKalb County Commissioners has created and established the DeKalb County Department of Redevelopment in conformance with I.C. 36-7-14-3 to be governed by the DeKalb County Redevelopment Commission (the "Commission") with the approval and adoption of an ordinance at its meeting on March 7, 1994;

WHEREAS, I.C. 36-7-14.5 provides that a unit having a redevelopment commission may establish a redevelopment authority controlled by a board of three (3) members which may assist a redevelopment commission in undertaking such redevelopment or economic development projects; and

WHEREAS, the County Council desires to establish a redevelopment authority;

NOW, THEREFORE, BE IT ORDAINED by the DeKalb County Council and the DeKalb County Commissioners in joint session, DeKalb, Indiana, as follows:

1. The DeKalb County Redevelopment Authority (the "Authority") is hereby created and established for the purposes and with all rights, powers, privileges and immunities now or hereafter granted to it by law, as a separate body corporate and politic and as an instrumentality of the County.

2. This Ordinance shall be in full force and effect from and after its adoption by the County Council and County commissioners this date.

(Ord. 94-3, passed March 16, 1994)

Chapter 1
Tax-Exempt Status of the DeKalb County
Redevelopment Authority Will Not Be Endangered

Tax-Exempt Status of the DeKalb County Redevelopment Authority Will Not Be Endangered.  WHEREAS, DeKalb County, Indiana (the "County") entered into a memorandum of Understanding, dated as of the 20th day of June, 1995 (the "MOU"), with the State of Indiana, the City of Butler, Indiana (the "City"), the DeKalb County Redevelopment Authority (the "Authority"), the DeKalb County Redevelopment Commission (the "Commission") and Steel Dynamics, Inc. ("SDI"), pursuant to which SDI has agreed to locate a steel mini-mill and related facilities in the County and pursuant to which the governmental entities referred to herein have agreed to provide certain economic incentives to facilitate the location of the steel mini-mill in the County; and

WHEREAS, the DeKalb County Redevelopment Authority (the "Authority") has been created pursuant to I.C. 36-7-14.5 as a separate body, corporate and politic, and as an instrumentality of the County to finance local public improvements for lease to the Commission: and

WHEREAS, the Authority intends to issue bonds in an aggregate principal amount of Nineteen million Four Hundred Sixty-Five Thousand and 00/100 Dollars ($19,465,000.00) pursuant to I.C. 36-7-14.5-1 et seq. to be known as the DeKalb County Redevelopment Authority, DeKalb County, Indiana, Series A 1995 Bonds (Mini-Mill Local Public Improvement Project)" (the "Bonds"), the proceeds of which are to be used to finance the costs of: (i) constructing and equipping a pollution control facility and (ii) issuance of the Bonds (the "Project"), which bonds are to be secured by a Trust Agreement between the Authority and Fort Wayne National Bank, as Trustee, dated as of February 15, 1995 (the "Trust Agreement"); and

WHEREAS, the Authority intends to lease the Project to the Commission pursuant to a Lease dated as of September 1, 1994, between the Authority and the Commission, as amended and restated by an Amended and Restated Lease dated as of February 15, 1995 (the "Lease"); and

WHEREAS, the County Board of Commissioners (the "Board of Commissioners") desires to confirm that the County will not take any action or fail to take any action with respect to the Bonds that would result in the interest on the Bonds being includable in gross income for federal income tax purposes and further desires to confirm these covenants with respect to Sections 4 (f) or 4 (g) of the MOU;

NOW, THEREFORE, BE IT RESOLVED, BY THIS DEKALB COUNTY, INDIANA, BOARD OF COMMISSIONERS AS FOLLOWS:

Chapter 2
DeKalb County Redevelopment Authority Bonds

DeKalb County Redevelopment Authority Bonds.  WHEREAS, the DeKalb County Redevelopment Authority (the "Authority") adopted its Resolution No. 3-1995 on March 7, 1995, indicating its intent to issue lease rental revenue bonds pursuant to I.C. 3607014.5 (the "Bonds") to finance the acquisition and construction of certain local public improvements hereinafter described which are necessary to serve the DeKalb County Economic Development Area (the "Area") established by the DeKalb County Redevelopment Commission (the "Commission") in its Resolution No. 1-1994 adopted on July 14, 1994; and

WHEREAS, the Authority adopted its Resolution 4-1995 on March 7, 1995, approving a proposed lease dated as of March 1, 1995, for said local public improvements (the "Lease") and authorizing the execution of said Lease, which Lease was executed on April 26, 1995; and

WHEREAS, the Authority adopted its Resolution 10-1995 on December 18, 1995, reaffirming its intent to issue the Bonds in an aggregate principal amount not to exceed Two Million Three-Hundred Seventy-five Thousand and 00/100 Dollars ($2,375,000.00); and

WHEREAS, the Authority authorized the publication of a Notice of Public Hearing regarding the Project pursuant to Treas. Reg. 5f.103-2 and said Notice of Public Hearing was published on May 16, 1996, in the Auburn Evening Star and the Garrett Clipper; and

WHEREAS, the Authority has conducted the public hearing as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"), and Treas. Reg. 5f.103-2 on May 30, 1996, following which it adopted a resolution reaffirming its intent to issue the Bonds;

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE COUNTY OF DEKALB, INDIANA, AS FOLLOWS:

Chapter 3
Sewer Easement for State Road 206
(Now County Road 61)

Sewer Easement for State Road 206 (Now County Road 61).

ARTICLE 4
INDIANA AREA III MANPOWER
AREA PLANNING COUNCIL

WHEREAS, it is to the mutual benefit of the communities of Northeastern Indiana and their residents that such communities work together to combat the evils of unemployment, to facilitate the exchange of information concerning job openings; to develop means of training individuals to perform in jobs best suited to their individual qualifications and otherwise to provide a climate of employment opportunities which will permit the utilization of maximum individual potential while furthering the welfare of the communities involved; and

WHEREAS, there is in existence an organization known as the Indiana Area III Manpower Area Planning Council (MAPC) which exercises jurisdiction within the Counties of Allen, DeKalb, LaGrange, Noble, Steuben and Whitley; and

WHEREAS, said Indiana Area III MAPC is peculiarly well suited to further the purposes set out herein above: and

WHEREAS, the structure of said Indiana Area III MAPC is such as to render the organization peculiarly responsive to the needs of its constituent communities,

NOW THEREFORE, be it resolved by the undersigned Board of County Commissioners;

Chapter 1
Community Focus Fund Application

Community Focus Fund Application.  WHEREAS, the Commissioners of DeKalb County, Indiana recognize the need to stimulate growth and to maintain a sound economy within its corporate limits; and

WHEREAS, the Housing and Community Development Act of 1974, as amended, authorizes the Indiana Department of Commerce to provide grants to local units of government to meet the housing and community development needs of low and moderate income persons; and

WHEREAS, the Commissioners of DeKalb County, Indiana will conduct public hearings prior to the submission of an application to the Indiana Department of Commerce, said public hearings to assess the housing, public facilities and economic needs of its low and moderate income residents;

NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of DeKalb County, Indiana that;

ARTICLE 5
COMMUNITY BLOCK GRANT

WHEREAS, the DeKalb County Commissioners intend to file an application with the Indiana Department of Commerce for the purpose of obtaining approximately $385,000. of Community Development Block Grant monies through its Investment Incentive Program for a Project totaling approximately $3,850,000. to provide partial financing for needed capital in equipment purchases by an industry to be located within DeKalb County,

NOW THEREFORE, be it resolved that we, the DeKalb Board of County Commissioners, hereby direct and authorize the President of the DeKalb Board of County Commissioners to act as signatory for this application and to act on our behalf in connection with this grant, including all assurances and understanding therein, and to provide such additional information to the Indiana Department of Commerce as may be required for proper execution of the grant.

(Res. 83-10, passed October 17, 1983)

Chapter 1
Community Development Block Grant Money

Community Development Block Grant Money.  WHEREAS, The DeKalb County Board of Commissioners intend to file an application with the Indiana Department of Commerce for the purpose of obtaining approximately $198,000 of Community Development Block Grant monies through its Investment Incentive Program for a project totaling approximately $1,250,000. to provide partial financing for needed capital in equipment purchases by an industry to be located within DeKalb County,

NOW THEREFORE, Be it resolved that we, the DeKalb County Board of Commissioners, hereby direct and authorize the President of the DeKalb County Board of Commissioners to act as signatory for this application and to act on our behalf in connection with this grant, including all assurances and understanding therein, and to provide such additional information to the Indiana Department of Commerce as may be required for proper execution of the grant.

(Res. 83-11, passed November 7, 1983)

ARTICLE 6
WATERLOO ECONOMIC DEVELOPMENT PROJECT

The Town of Waterloo and the Economic Development Commission requested the County waive jurisdiction over an economic development project outside the corporate limits of the town. This is an 85 acre area at SE corner of I-69 and US 6. Resolution was signed by the County Commissioners and County Council in joint session waiving jurisdiction

NOW THEREFORE BE IT RESOLVED: That the County Council and the County Commissioners of DeKalb County, Indiana, a body politic and municipal corporation in the State of Indiana, do now in joint session waive jurisdiction of the county to the Town of Waterloo, Indiana and the Economic Development Commission of the Town of Waterloo for the specific purpose of allowing said Economic Development Commission and said town to complete an economic development project in the area specifically described in Exhibit "A" attached hereto and made a part hereof.

(Res. 110584, passed November 5, 1984)

ARTICLE 7
ASHLEY ECONOMIC DEVELOPMENT
COMMISSION MEMBER APPOINTMENT

WHEREAS, pursuant to I.C. 36-7-11.9 and 12 (the "Act"), the Town of Ashley passed an ordinance creating an economic development commission of the Town of Ashley; and

WHEREAS, pursuant to the Act, the County Council of DeKalb County is authorized to nominate a member to the Ashley Economic Development Commission;

NOW THEREFORE, BE IT RESOLVED, that pursuant to the provisions of the Act, the County Council of DeKalb County hereby nominates Don Shipe of Ashley, Indiana, as its nominee for membership on the Ashley Economic Development Commission.

(Res. 97-3, passed March 3, 1997)