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

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(c) pay the principal of and interest on bonds payable from allocated tax proceeds in the Allocation Area and from the special tax levied under Section 27 of the Act; (d) pay the principal of and interest on bonds issued by the City to pay for local public improvements in or serving the Allocation Area; (e) pay premiums on the redemption before maturity of bonds payable solely or in part from allocated tax proceeds in the Allocation Area; (f) make payments on leases payable from allocated tax proceeds in the Allocation Area under Section 25.2 of the Act; (g) reimburse the City for expenditures made by it for local public improvements (which include buildings, parking facilities, and other items described in Section 25.1(a) of the Act) in or serving the Allocation Area; (h) reimburse the City for rentals paid by it for a building or parking facility in or serving the Allocation Area under any lease entered into under Indiana Code 36 -1 -10; (i) pay all or a portion of a property tax replacement credit to taxpayers in the Allocation Area as determined by the Commission, pursuant to Section 39 of the Act; (j) pay expenses incurred by the Commission for local public improvements that are in the Allocation Area or serving the Allocation Area. Public improvements include buildings, parking facilities, and other items described in Section 25.1(a) of the Act; or (k) reimburse public and private entities for expenses incurred in training employees of industrial facilities that qualify under the Act; provided however, that if further uses of property tax proceeds allocated to the Allocation Fund are authorized or permitted by amendment to the Act, including Indiana Code 36- 7- 14 -39, those uses shall also be authorized or permitted for property tax proceeds allocated to the Allocation Fund; and WHEREAS, the Act authorizes the issuance of bonds of the Redevelopment District payable solely from allocated tax proceeds; and WHEREAS, the Commission finds that, in order to provide funds for the payment of the cost of redevelopment and economic development in the Allocation Area it will be necessary and in the best interest of the Redevelopment District and the property and inhabitants thereof to issue bonds of the Redevelopment District which shall be payable from taxes on real property located in the Allocation Area and from proceeds from the sale or leasing of property in the Allocation Area, under Ind. Code § 36- 7 -14 -22 deposited in the Allocation Fund as required by Indiana Code 36- 7 -14 -26 (the "Tax Increment ") (with such other revenues that may be made -3- nooso1 4oro2160