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No. 2074 authorizing the issuance of COSB redevelopment district adjustable rate demand tax increment revenue bonds (series 2004)(Erskine Commons Project) and other related matters
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No. 2074 authorizing the issuance of COSB redevelopment district adjustable rate demand tax increment revenue bonds (series 2004)(Erskine Commons Project) and other related matters
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(i) <br />pay the principal of and interest on any obligations (including the Bonds <br />and the EDC Bonds) solely from <br />payable allocated tax proceeds which are <br />incurred by the Redevelopment District for the purpose of financing or <br />refinancing the redevelopment of the Allocation Area; <br />(ii) <br />establish, augment, or restore the debt service reserve for bonds (including <br />the Bonds and the EDC Bonds) payable solely or in part from allocated <br />tax proceeds in the Allocation Area; <br />(iii) <br />pay the principal of and interest on bonds payable from allocated tax <br />proceeds in the Allocation Area; <br />(iv) <br />pay the principal of and interest on bonds issued by the City to pay for <br />local public improvements in or serving the Allocation Area; <br />(v) <br />pay premiums on the redemption before maturity of bonds payable solely <br />or in part from allocated tax proceeds in the Allocation Area; <br />(vi) <br />make payments on leases payable from allocated tax proceeds in the <br />Allocation Area under Section 25.2 of the Act; <br />(vii) <br />reimburse the City for expenditures made by the City for local public <br />improvements (which include buildings, parking facilities, and other items <br />described in Section 25.1(a) of the Act) within or serving the Allocation <br />Area; <br />(viii) <br />reimburse the City for rentals paid by the City for a building or parking <br />facility within or serving the Allocation Area under any lease entered into <br />under IC 36 -1 -10; <br />(ix) pay all or a portion of a property tax replacement credit to taxpayers in the <br />Allocation Area as determined by the Commission pursuant to Section 39 <br />of the Act; <br />(x) pay expenses incurred by the Commission for local public improvements <br />that are in the Allocation Area or serving the Allocation Area. Public <br />improvements include buildings, parking facilities, and other items <br />described in Section 25.1(a) of the Act; or <br />(xi) reimburse public and private entities for expenses incurred in training <br />employees of industrial facilities that qualify under the Act; <br />provided however, that if further uses of property tax proceeds allocated to Allocation <br />Fund are authorized or permitted by amendment to the Act, including Section 39 of the <br />Act, those uses shall also be authorized or permitted for property tax proceeds allocated <br />to Allocation Fund. <br />SBIMANI 1884294 _ % _ <br />
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