No. 2153 authorizing issuance of bonds of the SB redevelopment district for purpose of raising money for certain local public improvements in downtown medical services district allocation area

Home Browse Search

0 RESOLUTION NO. 2253 A BOND RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION AUTHORIZING THE ISSUANCE OF BONDS OF THE SOUTH BEND REDEVELOPMENT DISTRICT FOR THE PURPOSE OF RAISING MONEY FOR CERTAIN LOCAL PUBLIC IMPROVEMENTS IN THE DOWNTOWN MEDICAL SERVICES DISTRICT ALLOCATION AREA WHEREAS, the South Bend Redevelopment Commission (the "Commission "), the governing body of the City of South Bend, Indiana, Redevelopment District (the "Redevelopment District "), exists and operates under Indiana Code 36 -7 -14, as amended from time to time (the "Act "); and WHEREAS, the Commission did, on May 10, 1985, adopt Resolution No. 737 (the "Declaratory Resolution ") declaring the South Bend Central Development Area (the "Area "), an area in the City of South Bend, Indiana (the "City "), to be a blighted area within the meaning of Ind. Code § 36 -7--14 (the "Act ") and approving a Redevelopment Plan for the Area (the "Plan ") pursuant to the Act; and WHEREAS, the Declaratory Resolution was confirmed by the Commission on June 14, 1985 by Resolution 739; and WHEREAS, the Commission has adopted various resolutions amending the Area and the Plan to include certain real estate located in the Redevelopment District; and WHEREAS, Section 17.5 of the Act provides for the means for amending a resolution or plan in a way that enlarges the boundaries of a redevelopment area by not more than twenty percent (20 %) of the original redevelopment area; and WHEREAS, Section 39 of the Act permits the creation of an allocation area within a blighted area to provide for the allocation and distribution, as provided by the Act, of the proceeds of taxes levied on property situated in the allocation area; and WHEREAS, the Commission, by Resolution No, 1737 (the "Amending Resolution ") adopted on February 18, 2000, expanded the Area by adding Expansion Area No. 4 (as described in the Amending Resolution) and designated Expansion Area No. 4 as an allocation area for purposes of Section 39 of the Act, which allocation area is known as the Downtown Medical Services District Allocation Area (the "Allocation Area ") and established an allocation fund for the Allocation Area designated the "City of South Bend, Department of Redevelopment, South Bend Central Development Area, Downtown Medical Services District Allocation Fund" (the "Allocation Fund "); and BDDB01 40102160