NOTICE OF PUBLIC HEARING OF THE CITY OF LEBANON ECONOMIC DEVELOPMENT COMMISSION Notice is hereby given that the City of Lebanon Economic Development Commission ("EDC") will hold a public hearing pursuant to Indiana Code 36-7-12-24, at 5:00 p.m., local time, on Monday, July 2, 2018, at the Lebanon Municipal Building, City Council Chambers, 401 S. Meridian Street, Lebanon, Indiana, regarding: (i) a proposed financing of economic development facilities, including, without limitation, the construction of a mixed-use development site and infrastructure improvements, together with all necessary appurtenances and related improvements and equipment (collectively, the "Project") by KennMar, LLC ("Company"), in or physically connected to the Lebanon Consolidated Economic Development Area ("Area"); (ii) the proposed issuance by the City of Lebanon, Indiana (the "City") of its Economic Development Lease Rental Revenue Bonds, Series 2018 (Gateway Marketplace Project) (the "Bonds"), in an aggregate principal amount not to exceed $3,300,000.00 and (iii) to consider whether this financing will have an adverse competitive effect on any similar facilities already constructed or operating in the City. Proceeds of the Bonds will be used for the acquisition and construction of the Project to be located at the southeast corner of Interstate 65 and State Road 32 in the City, in or physically connected to the Area. The Bonds will be issued by the City pursuant to Indiana Code 36-7-11.9, 36-7-12, 36-7-14 and 36-7-25, and an ordinance adopted by the Common Council of the City ("Common Council"). The Bonds will not be a general obligation of the City, the State of Indiana or any political subdivision thereof, nor payable in any manner by revenues raised from taxation other than the Bonds and the interest payable thereon will be payable solely from a pledge by the Lebanon Redevelopment Commission of tax increment revenues derived from the Gateway Marketplace Allocation Area ("Allocation Area"), and to the extent such tax increment revenues are insufficient for such purposes, revenues derived from the City's Food and Beverage Tax and, to the extent Food and Beverage Tax revenues are insufficient for such purposes, an ad valorem special benefits tax levied on all taxable property within the Lebanon Redevelopment District. The terms of the Bonds will be as further described in the authorizing ordinance to be adopted by the Council. At the time and place fixed for the public hearing, all taxpayers, residents or interested person will be given an opportunity to express their views for or against the proposed financing in writing or in person. Written comments may be submitted to the secretary of the EDC until July 2, 2018 by delivering such comments to the Clerk-Treasurer, Lebanon Municipal Building, 401 S. Meridian Street, Lebanon, Indiana 46052. If the EDC shall find itself and on behalf of the City, that the proposed financing will be of a benefit to the health and welfare of the City and complies with the purposes and provisions of Indiana Code 36-7-11.9 and -12, the EDC will adopt a resolution approving the proposed financing and the form of financing documents, including the Bonds in the maximum aggregate principal amount of $3,300,000.00 and shall transmit the resolution to the Common Council for consideration together with the form of the proposed ordinance to be recommended to the Common Council. CITY OF LEBANON ECONOMIC DEVELOPMENT COMMISSION TLR-376 June 22 hspaxlp
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