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RESOLUTION NO. 1655 <br />C <br />RESOLUTION OF THE SOUTH BEND REDEVELOPMENT <br />COMMISSION DETERMINING ITS INTENT TO PAY CERTAIN EXPENSES <br />INCURRED FOR LOCAL PUBLIC IMPROVEMENTS IN OR <br />SERVING THE AIRPORT ECONOMIC DEVELOPMENT AREA <br />ALLOCATION AREA NO. 1 FROM THE <br />AIRPORT ECONOMIC DEVELOPMENT AREA ALLOCATION <br />AREA NO. I SPECIAL FUND <br />WHEREAS, the South Bend Redevelopment Commission ( "Commission "), governing <br />body of the City of South Bend Department of Redevelopment ( "Department "), on February 23, <br />1990, adopted Resolution No. 919 declaring the Airport Economic Development Area to be an <br />economic development area within the meaning of IC 36 -7 -14 (the "Act "); and <br />WHEREAS, Resolution No. 919 and the Airport Economic Development Area <br />Development Plan were confirmed by Resolution No. 938 adopted on June 27, 1990; and <br />® WHEREAS, Resolution No. 919 has been amended from time to time pursuant to the <br />provisions of the Act; and <br />WHEREAS, Resolution No. 919 created the Airport Economic Development Allocation <br />Area No. 1 ( "Allocation Area No. I ") and the Airport Economic Development Area Allocation <br />Area No. 1 Special Fund (the "Allocation Fund ") for purposes of paying into such fund property <br />tax proceeds in excess of those described in Section 39(b)(1) of the Act for the purposes as <br />described in Section 39(b)(2) of the Act; and <br />WHEREAS, the Commission desires to pay expenses incurred by it for local public <br />improvements that are in or serving the Allocation Area with property tax proceeds deposited in <br />the Allocation Fund pursuant to the Act; and <br />WHEREAS, such payments are authorized pursuant to Section 39(b)(2)(J) of the Act and <br />are subject to the provisions of IC 6- 1.1 -18 -5; and <br />WHEREAS, the expenditures incurred by the Commission proposed to be paid with <br />property tax proceeds deposited in the Allocation Fund are described on the attached Exhibit <br />"A" • and <br />WHEREAS, the Commission desires to approve said payments from the Allocation Fund <br />in the total amount as described on Exhibit "A "; and <br />WHEREAS, the proposed payment from the Allocation Fund as provided for herein is <br />not for the operating expenses of the Commission. <br />NOW, THEREFORE, BE IT RESOLVED, by the South Bend Redevelopment <br />Commission, governing body of the City of South Bend, Department of Redevelopment, as <br />follows: <br />1. The Commission intends to approve the use of funds in the Allocation Fund in the <br />amount of One Million Six Hundred Thousand Dollars ($1,600,000.00) for paying the <br />expenditures as further described in Exhibit "A ". The Secretary of the Commission is hereby <br />authorized and directed to take all necessary steps to obtain the approval of the expenditure of <br />such funds pursuant to IC 6- 1.1 -18 -5, including the publication in accordance with IC 5 -3 -1 of <br />notice of a hearing on the appropriation of such funds to be held at 10:00 a.m., on January 22, <br />1999, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana <br />46601. <br />