No. 2754 appropriating TIF revenues from allocation area No. 1 fund for the payment of certain obligations/expenses related to the SSDA allocation area No. 1

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WHEREAS, the expenditures incurred or anticipated to be incurred by the Commission proposed to be paid with funds from Allocation Area No. 1 Fund are described on the attached Exhibit A; and WHEREAS, the proposed appropriations from Allocation Area No. 1 Fund are not for the operating expenses of the Commission; and WHEREAS, such appropriations are subject to the provisions of Indiana Code § 6- 1.1 -18 -5; and WHEREAS, on January 15, 2010, the Commission adopted Resolution 2624 appropriating a total amount of One Million Two Hundred Thousand and 00 /100 Dollars ($1,200,000.00); and WHEREAS, on August 27, 2010 the Redevelopment Commission adopted Resolution 2754 setting a public hearing to amend said appropriations for 10:00 a.m. on September 17, 2010 and authorizing the Secretary of the Commission to duly publish notice of said hearing; and WHEREAS, the Secretary of the Commission has caused notice of said hearing on said appropriations to be published in accordance with law; and WHEREAS, such public hearing was held at the Commission's meeting at 10:00 a.m. on September 17, 2010, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601, at which all taxpayers and interested persons had an opportunity to appear and express their views as to such additional appropriations; and WHEREAS, the Commission now desires to approve said appropriations in a total amount of an additional One Million Four Hundred Thousand and 00 /100 Dollars ($1,400,000.00); NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT COMMISSION AS FOLLOWS: 1. The Commission hereby finds that there are insufficient funds available or provided for in the existing budget and tax levy which may be applied to such expenses and the expenditure of such amount from Allocation Area No. 1 Fund. 2. The funds from Allocation Area No. 1 Fund in the amount of an additional One Million Four Hundred Thousand and 00/100 Dollars ($1,400,000.00) are hereby appropriated for the purpose of paying the expenditures described at Exhibit A. 3. Such appropriations shall be in addition to all the appropriations provided for in the existing budget and levy and shall continue in effect until the completion of the activities described herein. Any surplus of such proceeds shall be credited to the proper fund as provided by law. L