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No. 1904 authorizing the issuance of bonds of the SB Redevelopment District for the purpose of raising money for Redevelopment and Economic Development in the SEDA (TJX)
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No. 1904 authorizing the issuance of bonds of the SB Redevelopment District for the purpose of raising money for Redevelopment and Economic Development in the SEDA (TJX)
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incurred by the Redevelopment District for the purpose of financing or <br />refinancing the redevelopment of the Area; <br />ii. establish, augment, or restore the debt service reserve for <br />bonds (including the Bonds) payable solely or in part from allocated tax proceeds <br />in the Area; <br />iii. pay the principal of and interest on bonds payable from <br />allocated tax proceeds in the Area; <br />iv. pay the principal of and interest on bonds issued by the <br />City to pay for local public improvements in or serving the Area; <br />V. pay premiums on the redemption before maturity of bonds <br />payable solely or in part from allocated tax proceeds in the Area; <br />vi. make payments on leases payable from allocated tax <br />proceeds in the Area under Section 25.2 of the Act; <br />vii. reimburse the City for expenditures made by the City for <br />local public improvements (which include buildings, parking facilities, and other <br />items described in Section 25.1(a) of the Act) within or serving the Area; <br />viii. reimburse the City for rentals paid by the City for a <br />building or parking facility within or serving the Area under any lease entered <br />into under Indiana Code 36 -1 -10; <br />ix. pay all or a portion of a property tax replacement credit to <br />taxpayers in the Area as determined by the Commission pursuant to Section 39 of <br />the Act; <br />X. pay expenses incurred by the Commission for local public <br />improvements that are in the Area or serving the Area. Public improvements <br />include buildings, parking facilities, and other items described in Section 25.1(a) <br />of the Act; or <br />xi. reimburse public and private entities for expenses incurred <br />in training employees of industrial facilities that qualify under the Act; <br />provided however, that if further uses of property tax proceeds allocated to the Allocation <br />Fund are authorized or permitted by amendment to the Act, including Section 39 of the <br />Act, those uses shall also be authorized or permitted for property tax proceeds allocated <br />to the Allocation Fund. <br />C. When the money in the Allocation Fund is sufficient to pay when <br />due all principal and interest payments for that year on bonds (including the Bonds) <br />described in subsection (b), and is not needed for that year for the other purposes <br />described in subsection (b) (including without limitation the maintaining of property <br />-16- <br />SBIMAN 1 13062 M <br />
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