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Description:	116 journal of the common council regular session exhibit a agreement between city of terre haute and its economic development commission and hulman regional airport authority this agreement entered into this 20th day of may 1987 by and between the city of terre haute through its economic development commission and the common council of the city of terre haute acting as its fiscal body city and the hulman regional airport authority huf witnesses 1 . the city of terre haute is a second class city pursuant to indiana law and has powers and duties relative to the areas of economic development which have been delegated to its economic development commission which makes recommendations to the city of terre haute and its fiscal body the common council and which includes the collection of filing fees and application fees for applicants on whose behalf industrial revenue bonds are issued by and through the city of terre haute 2 the hulman regional airport authority is a city-county airport authority established pursuant to indiana law and has the primary responsibility for the management and operation of hulman regional airport which serves the terre haute and vigo county area 3 the city and huf have in the past several days been approached by evergreen airlines group evergreen which seeks to locate on the premises at huf to locate an overnight express mail and priority mail hub facility which will operate on behalf of the united states postal service by virtue of the contract which has been entered into between evergreen and the united states postal service time is of the essence in establishing such a hub for flight service operations since the operation must be functioning on or before june 8 1987 in order to carry out the purposes specified in this agreement the parties acknowledge that a bona fide emergency exists which requires immediate action on behalf of both the city and huf therefore the parties enter into their joint and immediate cooperation to carry out their mutual responsibilities to assist the development of an airport hub facility to further the needs and emergency purposes of evergreen this agreement shall provide for the following a it shall be in effect until such time as any hub facility constituted under the agreement between evergreen and the huf shall cease to exist b its purpose shall be to provide for the exchange of funds the making of loans and the carrying out of other financial assistance including the issuance of bonds notes and other forms of indebtedness by and between the two entities who are a party to this agreement to provide for the financing staffing and supplying of the undertaking of this proposal 4 that huf shall provide for the budget manpower and other day-to-day staffing of the activity and the responsibility of the city by and through its economic development commission should be to loan to the authority the sum of one hundred thousand dollars 100,000.00 which shall be repaid from the revenues to be received by the authority from the operations of evergreen 5 that the above loan by the terre haute economic development commission shall be made without interest and shall be repaid at the end of one year from and after the date of the execution of the evergreen agreement with the huf 6 that the terre haute economic development commission and the city agree to endeavor to assist by the of economic development revenue bonds of the city of terre haute in the development of the airport facility on behalf of evergreen and huf or acquired by huf for the purpose of enhancing and expanding the operations of evergreen in and about the airport property 7 this agreement shall be recorded with the recorder of vigo county and shall be effective immediately following the recording thereof city of terre haute economic development commission woodrow w creason approved jonathan patterson ray azar president attest charles p hanley city clerk
Source:	http://indstate.contentdm.oclc.org/digital/collection/cth/id/176
Collection:	City of Terre Haute

Further information on this record can be found at its source.