Laserfiche WebLink
0 WHEREAS, the Secretary of this Commission has caused notice of a hearing on <br />said appropriation to be published as required by law; and <br />WHEREAS, such public hearing was held on March 18, 2005, at 10:00 a.m. <br />(local time) in Room 1308, located at County -City Building, 227 West Jefferson Boulevard, <br />South Bend, Indiana, concerning said appropriation at which all taxpayers and interested persons <br />had an opportunity to appear and express their views as to such additional appropriation; <br />NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment <br />Commission as follows: <br />1. The proceeds derived from the sale of the bonds heretofore authorized to <br />be issued and the interest earnings thereon in the estimated amount of Fifty Thousand and 00 /100 <br />Dollars ($50,000.00) shall be, and are, hereby appropriated by the Commission for the purpose <br />of providing funds to be applied to the cost of the Project in the Allocation Area, together with a <br />sum sufficient to pay the estimated cost of all expenses reasonably incurred in connection with <br />the completion of the Project in the Allocation Area, including all reasonable and necessary <br />architectural, engineering, legal, financing, accounting, advertising, bond discount and <br />supervisory expenses, capitalized interest and a debt service reserve for the bonds to the extent <br />that the Commission determines that capitalized interest or a reserve is reasonably required, <br />together with expenses incurred in connection with the issuance of bonds not provided for in the <br />existing budget and tax levy. <br />2. Such appropriation shall be in addition to all appropriations provided for <br />in the existing budget and levy and shall continue in effect until the completion of the activities <br />described in Paragraph No. 1 above. Any surplus of such proceeds (including investment <br />0 earnings thereon) shall be credited to the proper fund as provided by law. <br />-3- <br />BDDBOI 4030202vt <br />