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A <br />A <br />A <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 shall be, and are, hereby appropriated by the Commission for the purpose of providing <br />funds to be applied to the cost of the Improvements in the Area, together with a sum sufficient to <br />pay the estimated cost of all expenses reasonably incurred in connection with the completion of <br />the Improvements in the Area, including all reasonable and necessary architectural, engineering, <br />legal, financing, accounting, advertising, bond discount and supervisory expenses, capitalized <br />interest and a debt service reserve for the bonds to the extent that the Commission determines <br />that capitalized interest or a reserve is reasonably required, together with expenses incurred 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 />SBIMANI 188838v1 <br />-3- <br />