Legal Advertisement NOTICE OF EXECUTION OF LEASE BETWEEN

Legal Advertisement
NOTICE OF EXECUTION
OF LEASE BETWEEN
THE FRANKLIN PARKS
BUILDING
CORPORATION AND
THE CITY OF
FRANKLIN, INDIANA,
PARK DISTRICT

The Park and Recrea-
tion Board (the Board) of
the City of Franklin, Indi-
ana (the City), on behalf
of the City of Franklin, In-
diana, Park District (the
District), has executed a
lease, dated as of Sep-
tember 21, 2026, between
the Franklin Parks Build-
ing Corporation (the
Corporation), as lessor,
and the District, as lessee
(the Lease), with respect
to the financing of (1) all or
any portion of the acquisi-
tion by the Corporation of
certain properties currently
owned by the Department
of Parks and Recreation of
the City of Franklin, Indi-
ana, or the City to be
leased to the District dur-
ing the construction period
of the Project (as herein-
after defined) (the Exist-
ing Real Estate), and (2)
all or any portion of the
construction, acquisition,
renovation, installation,
and equipping of improve-
ments at various parks in
the District, including but
not limited to certain new
projects, renovations, and
improvements at Scott
Park, the Scott Park
Sports Campus, and the
Franklin Family Aquatic
Center (the New Facility
Real Estate) (clauses (1)
and (2), collectively, the
Project).
The leased premises
under the Lease consists
of the Existing Real Es-
tate, the New Facility Real
Estate, the site and appur-
tenances to each of the
Existing Real Estate and
New Facility Real Estate,
and the Project (the
Premises). The pro-
posed lease is for a term
of up to twenty (20) years
commencing on the date
of issuance of bonds of
the Corporation to finance
the Project (the Bonds).
The annual lease rental
will not exceed Three Mil-
lion One Hundred
Ninety-Five Thousand
Dollars ($3,195,000) paya-
ble in semiannual install-
ments on January 1 and
July 1 of each year during
the term of the Lease.
Each rental installment
shall be based on the
value of the portion of the
Premises which will be
complete and ready for
use and occupancy by the
District at the time such
semi-annual installment is
made. As additional rental,
the District shall maintain
insurance on the Premises
as required in the Lease
and shall pay all taxes and
assessments against such
property, as well as the
cost of alterations and re-
pairs. After the sale of the
Bonds, the yearly rental,
payable in semiannual in-
stallments on each Janu-
ary 1 and July 1, shall be
reduced to the multiple of
$1,000 next higher than
the principal and interest
due on the Bonds in each
twelve-month period com-
mencing on July 1, plus
$5,000, payable in such
semiannual installments.
The District shall pay such
lease rentals solely from
the revenues of an ad
valorem tax levied by the
District on all taxable prop-
erty in the District pursu-
ant to Indiana Code
36-1-10-17, as amended.
The Lease gives an option
to the District to purchase
the Premises. The Project
will be used for park and
recreation purposes.
Dated this 29th day of
September, 2026.

PARK AND
RECREATION BOARD
OF THE CITY OF
FRANKLIN, INDIANA
60164111
(J) 09-29-2026