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WHEREAS, the President and Secretary of the Commission <br />have executed and attested, respectively, the Lease and Notice of <br />Execution and Approval of the Lease was published on Friday, <br />December 3, 1993, in accordance with IC 36 -7 -14 -25.2; and <br />WHEREAS, no petition objecting to the execution of the <br />Lease was filed with the County Auditor within the time period <br />provided by law; <br />WHEREAS, it is necessary for the Commission to establish <br />certain funds and accounts for the payment of the rentals owed by <br />the Commission pursuant to said Lease; and <br />NOW, THEREFORE, BE IT RESOLVED, by this South Bend <br />Redevelopment Commission as follows: <br />Section 1. There is hereby created and established <br />a Redevelopment District Bond Fund to consist of a Century Center <br />Project Principal and Interest Account and such other accounts as <br />the Commission shall from time to time establish. <br />Section 2. The Commission shall levy in each calendar <br />year beginning in the year prior to the first calendar year in <br />which the Commission is required to pay lease rentals pursuant to <br />the Lease, a special tax upon all of the taxable property in the <br />City of South Bend Redevelopment District in a total amount <br />sufficient, together with all other funds in the Century Center <br />Project Principal and Interest Account deposited into such account <br />E <br />j from any other sources (other than such special taxes) during the <br />previous 12 calendar months prior to August 1 of such calendar <br />year, to pay all lease rental payments payable in the 12 -month <br />-2- <br />