WHEREAS, a petition in eight (8) counterparts, signed by sixty-four (64) taxpayers of the City of West Lafayette ("City") has been filed with the Board of Public Works and this Common Council requesting the construction by and leasing from the West Lafayette Building Corporation of a police station; and

WHEREAS, such petition has been carefully considered and investigations have been conducted by this Council, both before and after the filing of this petition; and

WHEREAS, this Council now finds that a need exists for such police station, and that the City cannot provide the necessary funds to pay the cost of the police station required to meet such need; and

WHEREAS, it is deemed desirable to proceed with the necessary negotiations and all other steps looking toward the construction of such police station by the West Lafayette Building Corporation and the lease of the police station to the City, as lessee; now therefore,

WHEREAS, rentals due under the lease between the Corporation, as lessor, and the City, acting through its Board of Public Works, as lessee ("Lease"), shall be payable from the City's annual distributive share of economic development income tax ("EDIT"); and

BE IT RESOLVED, that the petition of taxpayers heretofore filed with this Council is hereby approved.

BE IT FURTHER RESOLVED, that a need exists for the construction of such police station, and that such police station cannot be constructed from any funds available to the City, and that this Council proceed to take such steps as may be necessary to secure the construction and leasing of such police station as provided by the Indiana Code, Title 36, Article 1, Chapter 10.

BE IT FURTHER RESOLVED, that the City hereby pledges EDIT to the payment of lease rentals due under the Lease.

BE IT FURTHER RESOLVED, that the City further covenants that it will take no action to rescind or repeal EDIT or to take any action that would result in the City receiving a smaller distributive share of EDIT than the distributive share of EDIT to which it was entitled on the effective date of this resolution. The City further covenants that it will take no action to rescind EDIT or reduce the EDIT rate as long as the Lease is in effect.

BE IT FURTHER RESOLVED, that the City has not pledged or otherwise encumbered its EDIT, and there are no prior liens, encumbrances, or other restrictions on the EDIT or on the City's ability to pledge EDIT to the payment of lease rentals due under the Lease.

BE IT FURTHER RESOLVED, that the City reserves the right to issue obligations, or enter into leases, payable from EDIT on a parity with the Lease, as long as the requirements in the Lease are met.

BE IT FURTHER RESOLVED, that the City hereby authorizes the Mayor and the Clerk- Treasurer to execute a Continuing Disclosure Undertaking Agreement in connection with the issuance of bonds by the Corporation to finance the Police Station.

This resolution shall be in full force and effect from and after its passage and signing by the Mayor.

Office of the Clerk-Treasurer Judy Rhodes