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ce <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 hereby approves the use of funds in the Allocation Fund in the <br />amount of: <br />a. Two Million, Five Hundred Thousand Dollars ($2,500,000.00) for purposes <br />of making the lease payments and for paying the expenditures as described on <br />Exhibit "A "; and <br />b. Five Hundred Thousand Dollars ($500,000.00) for redemption of bonds <br />associated with the South Bend Redevelopment Authority Variable Rate Demand <br />Lease Rental Revenue Bonds of 1994. <br />ro 2. The Secretary of the Commission is hereby authorized and directed to take all <br />necessary steps to obtain the approval of the expenditure of such funds pursuant to IC <br />6- 1.1 -18 -5, including the publication in accordance with IC 5 -3 -1 of notice of a hearing on the <br />appropriation of such funds to be held at 10:00 a.m., on Thursday, July 2, 1998 at 1200 <br />County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601. <br />ADOPTED at regular meeting of the South Bend Redevelopment Commission held on <br />June 19, 1998, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, <br />Indiana 46601. <br />SOUTH BEND REDEVELOPMENT COMMISSION <br />By: <br />Robert W. Hunt, President <br />ATTEST: <br />Eug is S. Schwartz, Secretary <br />vb:Res1611 <br />