11-09-09 Common Council Meeting Agenda & Packet

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ORDINANCE NO. AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AMENDING ORDINANCE #9907-09 TO CHANGE THE MUNICIPAL CODE SECTION FROM 2-170.13 TO 2-170.14 STATEMENT OF PURPOSE AND INTENT On February 24, 2009 the South Bend Common Council passed Ordinance #9907-09 which added a new Section to the South Bend Municipal Code, namely 2.170.13. However, this Code section designation is a duplication, and Ordinance #9907-09 requires an amendment to codify it at Chapter 2, Article 19, Section 2-170.14, not at Section 2-170.13. NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA as follows: SECTION I. South Bend Common Council Ordinance #9907-09 is amended at Section I to read as follows: SECTION I. Chapter 2, Article 14 of the South Bend Municipal Code is hereby amended to add a new section '' '~~ 2-170.14 to read in its entirety as follows: Sec. '' '~~ 2-170.14 Airport Economic Development Area/IJrban Enterprise Zone Special Zone Fund. (a) The Airport Economic Development Area/LTrban Enterprise Zone Special Zone Fund (#454) is established within the City of South Bend to receive property tax proceeds derived from parcels located in the Airport Economic Development Area that are also located in the Urban Enterprise Zone, as provided and permitted by Indiana law (I.C. 36-7-14- 39(8)). (b) All sums of money collected and deposited in this Fund shall be available for appropriation by the South Bend Redevelopment Commission and used for programs in job training, job enrichment and basic skill development that are designed to benefit residents and employers in the Urban Enterprise Zone and for other purposes permitted by. and consistent with IC 36-7-14-39 and other applicable Tax Increment Finance State Law. (c) Any and all interest earned on monies deposited in the Airport Economic Development Area /Urban Enterprise Zone, Special Zone