No. 2768 additional appropriation resolution of the City of South Bend Redevelopment Commission (South Bend CDA)

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WHEREAS, such appropriations are subject to the provisions of Indiana Code § 6- 1.1 -18 -5; and WHEREAS, on January 15, 2010 the Commission approved Resolution 2620 appropriating Five Million Two Hundred Seven Thousand Two Hundred Two and 00 /100 Dollars. ($5,207,202.00) to be expended in this Allocation Fund, and on April 23, 2010 approved Resolution 2668 appropriating an additional Three Hundred Ninety -Nine Thousand and 00 /100 Dollars ($399,000.00) to be expended in this Allocation Fund, and WHEREAS, the Commission wishes to amend said appropriations allowing an additional Seven Hundred Fifty Thousand and 00 /100 Dollars ($750,000.00) to be expended in this Allocation Fund, and WHEREAS, on September 17, 2010, the Commission adopted Resolution 2767 setting a public hearing on said appropriations for 10:00 a.m. on October 15, 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 IL a.m. on October 15, 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 an additional amount of Seven Hundred Fifty Thousand and 00 /100 Dollars ($750,000.00); 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 Fund. 2. The funds from Allocation Area Fund in the additional amount of Seven Hundred Fifty Thousand and 00 /100 Dollars ($750,000.00) 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. IL4. The President and /or the Secretary of the Commission are hereby