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WHEREAS, the State Board of Tax Commissioners issued its Order approving the <br />Original Lease pursuant to IC 6 -1.1- 18.5 -8 on July 16, 1997; and <br />WHEREAS, the President and Secretary of the Commission have executed and <br />attested, respectively, the Original Lease and Notice of Execution and Approval of the Original <br />Lease was published on Friday, August 1, 1997, in accordance with IC 36 -7 -14 -25.2; and <br />WHEREAS, no petition objecting to the execution of the Original Lease was filed <br />with the County Auditor within the time period provided by law; and <br />WHEREAS, the Commission had adopted a resolution of even date which provides <br />for certain amendments to the Original Lease but does not affect the maximum term or the maximum <br />lease rental provided in the Original Lease (as amended, the "Lease "); and <br />WHEREAS, it is necessary for the Commission to establish certain funds and <br />accounts for the payment of the rentals owed by the Commission pursuant to said Lease; <br />NOW, THEREFORE, BE IT RESOLVED, by this South Bend Redevelopment <br />Commission as follows: <br />Section 1. There is hereby created and established a Redevelopment District <br />Bond Fund to consist of a Morris Civic Center Project Principal and Interest Account and such other <br />accounts as the Commission shall from time to time establish. <br />Section 2. The Commission shall levy in each calendar year beginning in the <br />second year prior to the first calendar year in which the Commission is required to pay lease rentals <br />pursuant to the Lease, a special tax upon all of the taxable property in the City of South Bend <br />Redevelopment District in a total amount sufficient, together with all other funds in the Morris Civic <br />Center Project Principal and Interest Account deposited into such account from any other sources <br />(other than such special taxes) during the previous 12 calendar months prior to August 1 of such <br />-2- <br />0DMA\PCD0CS \SBDOCS 1 \5622\ l <br />