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No. 2018 appropriating the addt'l proceeds (including investment earnings) of SB redevelopment district tax increment redevelopment commission, to be applied to cost of property acquisition, redevelopment and economic development in or serving the AEDA
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No. 2018 appropriating the addt'l proceeds (including investment earnings) of SB redevelopment district tax increment redevelopment commission, to be applied to cost of property acquisition, redevelopment and economic development in or serving the AEDA
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10/18/2012 1:51:10 PM
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Dollars ($3,000,000.00) shall be, and are, hereby appropriated by the Commission for the <br />purpose of providing funds to be applied to the cost of the redevelopment and economic <br />development in the Area, including, without limitation, together with a sum sufficient to pay the <br />estimated cost of all expenses reasonably incurred in connection with the redevelopment and <br />economic development in the Area, including all reasonable and necessary architectural, <br />engineering, legal, financing, accounting, advertising, bond discount and supervisory expenses, <br />capitalized interest and a debt service reserve for the bonds to the extent that the Commission <br />determines that a reserve is reasonably required, together with expenses in connection with the <br />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 />SB IMAN 1 165700v 1 <br />-4- <br />
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