No. 2199 designating and declaring douglas road EDA, approving EDA plan and establishing an allocation area for purpose of tax incremental financing

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• (a) Pay the principal of and interest on any obligations payable solely from allocated tax proceeds which are incurred by the economic development district for the purpose of financing or refinancing the redevelopment of Allocation Area No. 1. (b) Establish, augment, or restore the debt service reserve for bonds payable solely or in part from allocated tax proceeds in Allocation Area No. 1. (c) Pay the principal of and interest on bonds payable from allocated tax proceeds in Allocation Area No. I and from the special tax levied under T.C. 36-7-14-27. (d) Pay the principal of and interest on bonds issued by the unit to pay for local public improvements in or serving Allocation Area No. 1. (e) Pay premiums on the redemption before maturity of bonds payable solely or in part from allocated tax proceeds in Allocation Area No. 1. (f) Make payrnents on leases payable from allocated tax proceeds in Allocation Area No. I under I.C. 36-7-14-25.2. (g) Reimburse the unit for expenditures made by it for local public improvements (which include buildings, parking facilities, and other items described in I.C. 36-7-14-25.1(a) in or serving Allocation Area No. 1. (h) Reimburse the unit for rentals paid by it for a building or parking facility in or serving Allocation Area No. I under any lease entered into pursuant to IC 36 -1 -10. (i) Pay all or a part of a property tax replacement credit to taxpayers in Allocation Area No. 1 as determined by the Commission. 0) Pay expenses incurred by the Commission for local public improvements that are in, Allocation Area No. I or serving Allocation Area No. 1. Public improvements include buildings, parking facilities, and other items described in I.C. 36 -7 -14- 25.1(x). Res2199—SBRC—Declai-atory,051202.doc 5