No. 1422 authorizing the issuance and sale of special taxing district refunding bonds of the SB redevelopment district for the purpose of advance refunding the COSB redevelopment district bonds of 1990

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RESOLUTION NO. /y 22 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION AUTHORIZING THE ISSUANCE AND SALE OF SPECIAL TAXING DISTRICT REFUNDING BONDS OF THE SOUTH BEND REDEVELOPMENT DISTRICT FOR THE PURPOSE OF ADVANCE REFUNDING THE CITY OF SOUTH BEND REDEVELOPMENT DISTRICT BONDS OF 1990 WHEREAS, the South Bend Redevelopment Commission (the "Commission ") is the governing body of the South Bend, Indiana Department of Redevelopment (the 'Department "), and exists and operates under the provisions of Indiana Code 36 -7 -14, as amended from time to time (the "Act "); and WHEREAS, the Commission, in accordance with the Act, has previously adopted its Resolution No. 762 (the "Declaratory Resolution ") on January 10, 1986, declaring that an area more particularly described therein designated by the Commission as the Studebaker Corridor Development Area (the "Area ") in the South Bend Redevelopment Special Taxing District (the 'District ") which is a special taxing district having the same boundaries as the City of South Bend, Indiana (the "City "), is blighted within the meaning of the Act, establishing the Area as an Allocation Area for purposes of tax increment financing as authorized by I.C. 36- 7- 14 -39, and determining that it would be of public utility and benefit to acquire such area and redevelop it pursuant to the Studebaker Corridor Development Plan (the 'Development Plan "); and WHEREAS, the South Bend Common Council (the "Common Council ") at its regular meeting on January 27, 1986, adopted its Resolution No. 1398 -86 approving the order of the Plan Commission with regard to the Area which was adopted by said Plan Commission in its Resolution No. 87 on January 21, 1986; and WHEREAS, on February 14, 1986, after notice and a public hearing thereon, the Commission in its Resolution No. 764 confirmed the Declaratory Resolution; and WHEREAS, said Declaratory Resolution was subsequently, after approval of the Plan Commission and the Common Council, as described herein, amended by Resolution No. 801 adopted on April 24, 1987, and by Resolution No. 809 adopted on August 28, 1987, with said amending Declaratory Resolutions being confirmed, after notice and a public hearing, by Resolution No. 804 adopted on June 26, 1987, and Resolution No. 816 adopted on October 23, 1987, respectively; and