Mr. Johnson moved to approve the minutes as presented, second Mr. Boice, eight aye, one abstention. Mr. Hampton abstained.

APRIL 12, 2016 The Common Council of the City of Noblesville met in regular session on Tuesday, April 12, 2016. Greg O Connor called the meeting to order pursuant to public notice with the following members present: Brian Ayer, Mark Boice, Wil Hampton, Christopher Jensen, Roy Johnson, Mary Sue Rowland, Rick Taylor, and Megan Wiles. Also present were Mayor John Ditslear, City Clerk Evelyn Lees, Deputy Mayor Steve Cooke, City Attorney Michael Howard, Department Directors, and interested citizens. APPROVAL OF MINUTES: MARCH 15, 2016 Mr. Johnson moved to approve the minutes as presented, second Mr. Boice, eight aye, one abstention. Mr. Hampton abstained. APPROVAL OF MINUTES: MARCH 29, 2016 Mr. Johnson moved to approve the minutes as presented, second Ms. Wiles, eight aye, one abstention. Mr. Boice abstained. APPROVAL OF AGENDA Mr. Boice moved to approve the agenda as presented, second Ms. Wiles, nine aye. PETITIONS OR COMMENTS BY CITIZENS WHO ARE PRESENT There was one petition to speak. The petitioner chose to speak when the item is presented. MAYOR S REPORT TO COUNCIL Mayor Ditslear introduced Deputy Mayor Steve Cooke, who started last week. This is his first Council meeting as Deputy Mayor. Mayor Ditslear stated on March 30 th he attended a Hamilton County GOP breakfast with Congresswoman Susan Brooks. On April 1 st, he attended a ribbon cutting for ELAM, an environmental consulting firm in the old Federal Hill School building. Mayor Ditslear attended a 911 Executive Board meeting. The Street Department is seeking groups or organizations to volunteer for its Adopt-A-Street program. The Mayor s Prayer Breakfast will be held on Thursday, May 5 th at White River Christian Church. The speaker will be Courtney Cole. COUNCIL COMMITTEE REPORTS Mr. Taylor stated the Roads Committee met on April 1 st. The Midland Trace Trail is moving forward. Twenty-four right-of-way parcels have been secured. Nine are still in process. Some may go to litigation. The Harrigan/Hague Roads roundabout and Presley Drive roundabout landscaping will be completed this fall. The 2016 trail connection and sidewalk project lists are in progress and will be completed soon. The Riverwalk will be a summer project with completion next spring or summer. The Presley Drive/S.R. 32 project will close S.R. 32 for two weeks after Memorial Day. The 17 th Street realignment at Conner Street will be a summer project. Bids will go out soon. The Downtown traffic light project will work with INDOT this summer. A caution light will be installed at 156 th Street and Boden Road because of accidents. The 2016 Landscape Maintenance program was awarded to Brickman. Quotes for Downtown street lights were opened this morning at the Board of Works meeting. Decking will be replaced on the Lakeview Drive Pedestrian Bridge. It is out for quotes. Mr. Taylor stated the Public Safety Committee met on March 30 th with Fire Chief Wyant and Assistant Chief Mitchell. They gave a presentation on the five year capital improvement plan for the Fire Department. The presentation began with a discussion of National Fire Protection Association (NFPA) standards, which are the national standards that the Fire Department uses. Chief Wyant reviewed the history of the Cum Fire Fund. The fund exists to pay for capital Fire expenditures, primarily equipment. The capital improvement plan was reviewed next. All Self-

APRIL 12, 2016, PAGE II Contained Breathing Apparatus (SCBA) must be replaced next year. The department also needs to replace a 25-year-old ladder truck. Chief Wyant presented a five year schedule of equipment purchasing costs and explained the needs for each category of equipment. There were questions at the end of the meeting, the most important being why a large amount of money was returned to the General Fund in 2015. The explanation was distributed to the Council. It was only 2.9 percent of the budget. The Committee made recommendations to the Finance Committee. The Cum Fire Fund was set up to fund capital items. Obviously, since 2010 revenue has gone down due to the property tax caps. Revenue is split between Cum Fire and the General Fund. After reviewing the five year projections for the Fire Department, the Committee recommended that the Cum Fire levy be increased to raise the balance in the Cum Fire Fund. Ms. Rowland stated the Tree Board met on February 1 st. The urban forester position has been filled by Vince Baker. He has been with the Street Department a long time and has been very interested in the City s trees. The Arbor Day celebration will be at Forest Park on April 23 rd from 10:00 a.m. to 1:00 p.m. Three hundred tree seedlings will be given away. The Tree Board is looking for help with the seedlings. Mr. O Connor stated the Finance Committee met on April 7 th. The State Board of Accounts auditors started their audit on Monday and will be here for a few months. Funding for new projects was discussed. Confirmation was received that $8.4 million will be returned to the City from the State COIT reserves. We do not yet know when it will come. The 2017 budget process will begin at the May 10 th Council retreat with Mike Reuter. He will review the improved Fiscal Plan that incorporates all of the departments five year capital asset needs. Overall City debt was discussed. Controller Michael Hendricks has created a spreadsheet of all the City s bonds and projects funded by the bonds. It will be shared with the Council soon. Mr. Taylor shared the Public Safety Committee s recommendations. APPROVAL OF CLAIMS Mr. Taylor moved to approve the claims, second Mr. Johnson, nine aye. PREVIOUSLY DISCUSSED ORDINANCES #17-03-16 COUNCIL TO CONSIDER ORDINANCE #17-03-16, AN ORDINANCE FOR A CHANGE OF ZONING FOR APPROXIMATELY 15 ACRES FROM R1 SINGLE-FAMILY RESIDENTIAL ZONING DISTRICT TO PB PLANNED BUSINESS ZONING DISTRICT FOR PROPERTY LOCATED AT 11480 GREENFIELD AVENUE (SARAH REED) They forwarded a favorable recommendation with a vote of 10 to 0 for this item. There have been no changes since the first reading. Ms. Wiles moved to approve Ordinance #17-03-16, second Mr. Hampton. The following roll call vote was taken: AYE: Brian Ayer, Mark Boice, Wil Hampton, Christopher Jensen, Roy Johnson, Mary Sue Rowland, Rick Taylor, Megan Wiles, and Greg O Connor.

APRIL 12, 2016, PAGE III #18-03-16 COUNCIL TO CONSIDER ORDINANCE #18-03-16, AN ORDINANCE FOR THE ADOPTION OF A PRELIMINARY DEVELOPMENT PLAN FOR APPROXIMATELY 15 ACRES FROM PB PLANNED BUSINESS ZONING DISTRICT TO PB/PD PLANNED BUSINESS PLANNED DEVELOPMENT FOR PROPERTY LOCATED AT 11480 GREENFIELD AVENUE (SARAH REED) Ms. Reed stated this ordinance goes with the previous ordinance. This item had a public hearing at the March 21st Plan Commission meeting. They forwarded a favorable recommendation with a vote of 10 to 0. There have been no changes since the first reading. Ms. Wiles moved to approve Ordinance #18-03-16, second Mr. Taylor. The following roll call vote was taken: AYE: Megan Wiles, Rick Taylor, Mary Sue Rowland, Roy Johnson, Christopher Jensen, Wil Hampton, Mark Boice, Brian Ayer, and Greg O Connor. #19-03-16 COUNCIL TO CONSIDER ORDINANCE #19-03-16, AN ORDINANCE CONCERNING SIGN WAIVERS FROM THE SAXONY CORPORATE CAMPUS PLANNED DEVELOPMENT ORDINANCE #56-11-15 FOR PRIMANTI BROS., LOCATED AT 13871 CABELA PARKWAY (SARAH REED) Ms. Reed stated the petitioner is not present due to another commitment, but he answered questions at the last meeting. This item had a public hearing at the March 21st Plan Commission meeting. They forwarded a favorable recommendation with a vote of 7 to 3. There have been no changes since the first reading. Mr. Jensen moved to approve Ordinance #19-03-16, second Mr. Boice. The following roll call vote was taken: AYE: Christopher Jensen, Roy Johnson, Mary Sue Rowland, Rick Taylor, Megan Wiles, Brian Ayer, Mark Boice, Wil Hampton, and Greg O Connor. #20-03-16 COUNCIL TO CONSIDER ORDINANCE #20-03-16, AN ORDINANCE CONCERNING AN AMENDMENT TO THE PRELIMINARY DEVELOPMENT PLAN FOR THE ESSEX OF NOBLESVILLE PLANNED DEVELOPMENT (SARAH REED) They forwarded a favorable recommendation with a vote of 10 to 0. There have been no changes since the first reading. Mr. Hampton asked exactly how many lots would be made available. Ms. Reed replied there are three. One is a corner lot, so it is larger than the other two. Ms. Wiles moved to approve Ordinance #20-03-16, second Mr. Taylor. The following roll call vote was taken: AYE: Brian Ayer, Mark Boice, Wil Hampton, Christopher Jensen, Roy Johnson, Mary Sue Rowland, Rick Taylor, Megan Wiles, and Greg O Connor. #22-03-16 COUNCIL TO CONSIDER ORDINANCE #22-03-16, AN ORDINANCE CONCERNING AN AMENDMENT TO THE ADOPTED COUNTY PRELIMINARY DEVELOPMENT PLAN FOR BROCCOLI BILL S, LOCATED AT 15009 NORTH GRAY ROAD (SARAH REED) They forwarded a favorable recommendation with a vote of 9 to 1. There have been no changes since the first reading. Broccoli Bill is present. The plan will allow him to double the size of his facility now that he will have access to sanitary sewer. Mr. Jensen moved to approve Ordinance #22-03-16, second Mr. Boice. The following roll call vote was taken: AYE: Christopher Jensen, Roy Johnson, Mary Sue Rowland, Rick Taylor, Megan Wiles, Brian Ayer, Mark Boice, Wil Hampton, and Greg O Connor.

APRIL 12, 2016, PAGE IV #23-03-16 COUNCIL TO CONSIDER ORDINANCE #23-03-16, AN ORDINANCE CONCERNING SIGN WAIVERS FROM THE TOWN AND COUNTRY PLANNED DEVELOPMENT ORDINANCE #23-5-96 FOR STARBUCKS, LOCATED AT 16978 CLOVER ROAD (SARAH REED) They forwarded a favorable recommendation with a vote of 9 to 1. There have been no changes since the first reading. Mr. Taylor asked if Starbucks had already received a waiver for signs. Ms. Reed replied the permits were approved while Ms. Yelton was out and were interpreted incorrectly. The siren and drive through signs were interpreted as one sign. Ms. Yelton usually reviews sign permits. This is why the Planning Department is reviewing the sign package. Anyone reviewing a permit should reach the same conclusions. At this time the Council heard a petition to speak from Ms. Tracie Gessel of 125 Hillside Drive, Greenville, SC 29607, speaking on behalf of Starbucks. Ms. Gessel stated Starbucks did seek a permit, but not a variance. She is available to answer any questions. There were none. Mr. O Connor thanked her for traveling from South Carolina. Ms. Gessel stated Starbucks likes to have a representative present when a waiver is requested. Mr. Ayer moved to approve Ordinance #23-03-16, second Mr. Jensen. The following roll call vote was taken: AYE: Brian Ayer, Mark Boice, Wil Hampton, Christopher Jensen, Roy Johnson, Mary Sue Rowland, Rick Taylor, Megan Wiles, Greg O Connor. NEW ORDINANCES FOR DISCUSSION #24-04-16 COUNCIL TO CONSIDER ORDINANCE #24-04-16, AN ORDINANCE AUTHORIZING THE CITY TO REFUND ITS REVENUE BONDS, SERIES 2009A (HAMILTON COUNTY CATHOLIC HIGH SCHOOL CORPORATION PROJECT) AND APPROVING AND AUTHORIZING OTHER ACTIONS THERETO (MICHAEL HOWARD) Mr. Johnson moved to introduce Ordinance #24-04-16, second Mr. Boice. Mr. Howard stated this is the 13 th year that the City has been involved with financing of the Hamilton County Catholic High School Corporation, commonly known as Guerin High School. The Economic Development Commission provided conduit financing, which means the City s name is on the bonds, but the City is not obligated in any way. The bonds do not count toward the City s constitutional debt limit or appear on any statements. Through a series of transactions, the City issues the bonds, but they are pre-sold. The lender is like a commercial lender for Guerin. The City will enter into a loan agreement with Guerin High School. The School makes payments to the City, which assigns the money and any rights to a trustee. The trustee pays the debt dollar for dollar, including fees. The only recourse the lender has is against the assets, which are held by the trustee. The agreement has gone through several drafts, all of which are clear that there is no recourse against the City. Mr. Howard introduced Mr. Gary Malone, recently retired from H.J. Umbaugh. He is a CPA who has volunteered his services to Guerin High School. Mr. Malone introduced Mr. Paul Lunsford, President of Guerin Catholic High School, Ms. Karla Schlichte, Chief Financial and Operating Officer, and Mr. Michael Allen, bond counsel with Ice Miller. Mr. Allen has helped draft all the documents. Mr. Malone stated in 2003 Guerin High School, through the City, issued $13.1 million in tax-free bonds to pay for the initial construction of the school. Without the City s help and if the bonds had not been tax free, they could not have been sold. They are greatly indebted to the City for helping Guerin Catholic get started. In order to keep tuition and payments low, a balloon payment was set for 2022. In 2009, the bonds were refinanced with the City s help, which reduced the interest rate from 5.25 percent to 3.6 percent, but the balloon payment was left intact. Now Guerin has the opportunity to reduce the bond and eliminate the

APRIL 12, 2016, PAGE V balloon payment, stretching all payments over a 20 year period. They will also lock in a tax-free 3.55 percent interest rate. The bonds will be issued by Lafayette Bank & Trust, known in Noblesville as First Merchants Bank, in the amount of $11.625 million. The final maturity date will be July 1, 2036. The bonds are paid solely through the revenues of the school and are secured by a mortgage on the school and property. There are no obligations on the City. The City s involvement allowed the bonds to be issued at a tax-free interest rate, which was a huge advantage to the school. The rate reduces interest costs, which helps keep tuition as low as possible. Mr. Lunsford addressed the Council. He stated the school has approximately 750 students enrolled currently, and will cap enrollment at 800. The finances of the school have improved drastically in the last few years, thanks to generous donors. Mr. Lunsford stated it has been a delight working with Mayor Ditslear and thanked him for his help. Mr. Lunsford also complimented Noblesville Schools. Students that Guerin receives from Noblesville Schools have been well prepared. Mr. Boice asked if the 2009 refinancing was for the sports expansion. Mr. Lunsford replied no, it was not. In 2010, classrooms in trailers were added to accommodate growth. A $6.5 million wing was added to the building, built with cash, so the trailers are gone now. Mr. Malone stated all the financing and re-financing has only been for initial construction of the school. Mr. Lunsford stated all future plans for expansion will be paid for with cash. PUBLIC HEARING FOR ORDINANCE #24-04-16 Mr. O Connor opened the public hearing for Ordinance #24-04-16. Mr. Ron Dahlgren, 1295 Morton Street, came forward. Mr. Dahlgren asked what the process was for choosing a trustee for the bonds. How was it determined, and what options were considered? Mr. Malone stated the 2003 bonds were purchased by John Levine, a company from Chicago, but a local trustee was preferred. Lafayette Bank & Trust was chosen because they were local, and also because they had provided support to the Lafayette Archdiocese, which is this area Catholic diocese. First Merchants Bank acquired Lafayette Bank & Trust, so it is appropriate to use First Merchants as the trustee for these bonds. Mr. Howard stated the City has no role in the process of choosing a trustee. The transactions are between the lender and the borrower. As long as bond counsel Michael Allen is satisfied with the legalities and enforceability, and Mr. Howard is satisfied that the City s rights are protected, who the trustee is does not really matter to the City. Seeing no other members of the public come forward, Mr. Boice moved to close the public hearing, second Mr. Taylor, nine aye. Ms. Wiles stated in the interest of full disclosure, she is the parent of a Guerin student. Mr. Boice moved to waive the rules and pass Ordinance #24-04-16 on first reading, second Mr. Taylor, nine aye. The following roll call vote was taken: AYE: Megan Wiles, Brian Ayer, Mark Boice, Wil Hampton, Christopher Jensen, Roy Johnson, Mary Sue Rowland, Rick Taylor, and Greg O Connor. MISCELLANEOUS #1 COUNCIL TO CONSIDER RESOLUTION #RC-19-16, A RESOLUTION RATIFYING THE SALE OF LEASE RENTAL REFUNDING BONDS BY THE NOBLESVILLE BUILDING CORPORATION, AND OTHER MATTERS RELATED THERETO (FIRE STATION 7 AND STREET DEPARTMENT PROJECT) (MICHAEL HOWARD) Mr. Howard stated at the March 15 th meeting the Council preliminarily approved refunding these bonds with an expected gross savings of $350,000.00. Per the contract and signed purchase agreement, the refinanced gross savings through 2029 will be $358,083.00. This resolution ratifies the previous bond purchase agreement, which the Council authorized the Building Corporation to sign. The closing is set for April 14 th. Mr. Jensen has asked what exactly does the bond refunding mean. Mr. Howard stated the bonds are paid from an ad valorem property

APRIL 12, 2016, PAGE VI tax levy. The savings will reduce the levy on the taxpayers. There is not a huge effect, but it is a matter of being good stewards of the taxpayers money. This resolution gives final approval to close the transaction. Mr. O Connor asked if the bonds are callable in 2021. Mr. Howard replied the call date on the refunding is in late 2018. When the bonds are refunded, they can t be paid off until they are called. The City has pledged payment until that date, so enough money has to be borrowed and put in escrow to make the principal and interest payments. If the City waited until the call date there might be more savings, but if interest rates go up, there would be less savings. Some savings could be lost, but because the interest rates are lower, the principal will be retired faster. This reduces the overall cost. Mr. Ayer asked if this extends the life of the original bonds. Mr. Howard replied no, the term remains the same. We are borrowing more money than is shown in the principal because of the negative arbitrage in the escrow account. Mr. Boice moved to approve Resolution #RC-19-16, second Mr. Jensen, nine aye. #2 COUNCIL TO CONSIDER RESOLUTION #RC-20-16, A RESOLUTION APPROVING A SUPPLEMENTAL TRUST INDENTURE BETWEEN THE REDEVELOPMENT AUTHORITY AND THE REDEVELOPMENT COMMISSION, RATIFYING THE SALE OF LEASE RENTAL REFUNDING BONDS BY THE REDEVELOPMENT AUTHORITY, AND OTHER MATTERS RELATED THERETO (SMC PROJECT) (MICHAEL HOWARD) Mr. Howard stated this refunding is similar to the last item in that an escrow account will be established for bonds callable in 2018. The bonds were used for internal roads and drainage for the SMC project, and improvements to Howe and Cumberland Roads north of 146 th Street. When the preliminary agreement was approved, the savings were estimated to be approximately $1.5 million. The actual savings will be almost $2.2 million. These bonds are paid from a TIF. The SMC subdistrict of the TIF was created to keep track of revenue for these bonds and make sure SMC was meeting their obligations. This fund has always been in the red, but projections now show the abatements will soon burn off. That, with the reduction in costs of the refunding, should put the subdistrict a little bit in the black by the end of 2016, which should then increase. In the future, the TIF may be amended to allow the extra revenue to be used for the State Road 37 project, which will serve and benefit this area. Closing is set for April 19 th. This resolution is final approval from the Council. Mr. O Connor asked if the rate was 2.13 percent. Mr. Howard replied that is correct. The rate on the first bond was 2.18 percent. Mr. O Connor stated on the public market, these bonds would be sold 30 to 35 basis points higher. By using a direct placement, the City receives a lower rate. Mr. Howard stated a public placement also requires the City to meet many more regulatory requirements because it would be an SEC regulated transaction. A private placement with a sophisticated investor avoids the extra expense. The bank understands that these bonds are not registered transactions, and they look solely to what is pledged in the documents. Ms. Wiles moved to approve Resolution #RC-20-16, second Mr. Boice, nine aye. COUNCIL COMMENTS Mr. O Connor reminded the Council that the Park Foundation luncheon is on April 22 nd. Mr. Taylor stated the Public Safety Committee will meet with Police Chief Jowitt to go over their five year capital plan. Mr. Jensen stated on April 15 th, Janus will hold their annual fundraising breakfast. Mr. Hampton commended the Noblesville Police Department on their handling of the recent social media scare at Noblesville High School. They performed due diligence, and their presence helped the students. Mr. Taylor agreed.

APRIL 12, 2016, PAGE VII ADJOURNMENT There being no further business before the Common Council this 12 th day of April, 2016, Mr. Boice moved to adjourn, second Mr. Jensen, nine aye. GREGORY P. O CONNOR, PRESIDENT ATTEST: EVELYN L. LEES, CLERK