Laserfiche WebLink
not sufficient therefor, from a special tax levied upon all of the taxable property of the District, <br />for the purpose of procuring funds to pay for the cost of redevelopment and economic <br />development in the Area including without limitation property acquisition, demolition and <br />removal of existing buildings and environmental remediation and related redevelopment and <br />economic development activities at and around the TJX Site (as defined in the Bond Resolution), <br />together with a sum sufficient to pay the estimated cost of all expenses reasonably incurred in <br />connection with the redevelopment and economic development in the Area, including the total <br />cost of all reasonable and necessary architectural, engineering, legal, financing, accounting, <br />advertising, bond discount and supervisory expenses, capitalized interest and a debt service <br />reserve for the bonds to the extent that the Commission determines that a reserve is reasonably <br />required, together with the expenses in connection with or on account of the issuance of the <br />bonds; and <br />WHEREAS, the Commission did not include the proceeds (including investment <br />earnings thereon in an estimated amount of $500,000) of said bonds of the District in the regular <br />budget for the year 2002; and <br />WHEREAS, there are insufficient funds available or provided in the existing <br />budget and tax levy which may be applied to the cost of the redevelopment and economic <br />development in the Area, and the issuance of said bonds has been authorized to procure the <br />necessary funds and an extraordinary emergency and necessity exists for the making of the <br />additional appropriation set out herein; and <br />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 />-2- <br />SBIMAN 1130614v 1 <br />