Laserfiche WebLink
WHEREAS, such public hearing was held on August 16, 2002, at 10:00 a.m. <br />(local time) in Room 1308, County -City Building, 227 West Jefferson Boulevard, South Bend, <br />Indiana, concerning said appropriation at which all taxpayers and interested persons had an <br />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 all investment earnings thereon in the approximate amount of $500,000.00 shall <br />be, and are, hereby appropriated by the Commission for the purpose of providing funds to be <br />applied to the cost of the redevelopment and economic development in the Area, together with a <br />sum sufficient to pay the estimated cost of all expenses reasonably incurred in connection with <br />the redevelopment and economic development in the Area, including the all reasonable and <br />necessary 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 a reserve is reasonably required, together with expenses in <br />connection with the issuance of bonds not provided for in the 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 />earnings thereon) shall be credited to the proper fund as provided by law. <br />3. The President and Secretary of the Commission shall be, and hereby are, <br />authorized and directed to certify a copy of this Resolution together with such other proceedings <br />and actions as may be necessary to the Department of Local Government Finance. <br />-3- <br />SBIMAN 1 1306141 <br />