No. 1920 amending resolution No. 1904 which authorized the issuance of redevelopment district special taxing district bonds, series 2002

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Section 4. There are hereby created and established in the Allocation Fund a Tax Increment Revenue Account, into which all Tax Increment received and such other revenues available to the Commission (including any Tax Increment on deposit in the Allocation Fund as of the date of delivery of the Bonds) shall be deposited and held in reserve for payment of debt service on the Bonds pursuant to this Resolution and Indiana Code 36- 7- 14 -39, a Bond Principal and Interest Account, a Debt Service Reserve Account (the "Reserve Account "), and a General Account, and there is further hereby continued the Redevelopment Special Taxing District Bond Fund and created in such Bond Fund a 2002 Bond Account, into which all Special Taxes received shall be deposited, each of which accounts the Commission hereby covenants and agrees to cause to be kept and maintained. On July 15, 2003, and each July 15th thereafter (the "Determination Date "), if it is determined that the Tax Increment and other revenues available to the Commission are insufficient on such Determination Date to pay debt service on the Bonds due in the twelve (12) month period beginning on July 1, 2004, and each twelve (12) month period beginning on each July 1, 2004, and each twelve (12) month period beginning on each July 1 thereafter (the "Pledge Period "), the Commission hereby covenants to levy a Special Tax for collection during such Pledge Period upon all of the taxable property of the District in a total amount, together with the Tax Increment and other revenues available to the Commission k_ for such purpose, sufficient to make such debt service payments for the applicable Pledge Period. The Commission acknowledges that any such Special Tax must be included within the budget of the City and further acknowledges and agrees that it will take such action as may be necessary to include the same within the budget of the City. On July 15, 2003, and each July 15th thereafter, all monies in the Tax Increment Revenue Account to the extent of the Tax Increment taken into account pursuant to Indiana Code 36- 7 -14 -27 in determining the amount of the Special Tax to be levied for such calendar year and, to the extent necessary to meet the requirements of the Bond Principal and Interest Account as described below, on June 30, 2004, and each December 30 and June 30 thereafter all moneys in the Redevelopment Special Taxing District Bond Fund shall be set aside in the following accounts within the Allocation Fund, in the following order of priority: a. Bond Principal and Interest Account. There shall be set aside within the Allocation Fund and deposited into the Bond Principal and Interest Account from the Tax Increment Revenue Account, to the extent of the Tax Increment taken into account pursuant to Indiana Code 36- 7 -14 -27 in determining the amount of the Special Tax for the Pledge Period next following. There shall also be deposited into the Bond Principal and Interest Account, to the extent necessary, from the 2002 Bond Account of the Redevelopment Special Taxing District Bond Fund, on each December 30 and June 30 the amount of the Special Tax collected for the payment of principal of and interest on the Bonds for said Pledge SBIMANI 137132vl - 2 -