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C 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 $200,000.00 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, including, <br />without limitation, together with a sum sufficient to pay the estimated cost of all expenses <br />reasonably incurred in connection with the redevelopment and economic development in the <br />Area, including all reasonable and necessary architectural, engineering, legal, financing, <br />accounting, advertising, bond discount and supervisory expenses, capitalized interest and a debt <br />service reserve for the bonds to the extent that the Commission determines that a reserve is <br />reasonably required, together with expenses in connection with the issuance of bonds not <br />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 147402v 1 <br />