No. 1171 appropriating money from the SBCAA (No. 1A) special fund

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WHEREAS, the Commission desires to appropriate an amount equalling One Hundred Ninety -seven Thousand Dollars ($197,000.00), which amount equals the amount required to make such lease rental payments, from the South Bend Central Allocation Area (South Bend Allocation Area No. 1A) Special Fund (the "Allocation Fund ") to the Palais Royale Acquisition Project Principal and Interest Account of the Redevelopment District Bond Fund; and WHEREAS, the use of money in the Allocation Fund for the purpose of making payments on these Leases is permitted under IC 36- 7 -14 -39 (b) (2) (F) . NOW, THEREFORE, BE IT RESOLVED, by the South Bend Redevelopment Commission, governing body of the City of South Bend, Department of Redevelopment, as follows: 1. Funds from the Allocation Fund in the amount of Three Hundred Ninety -one Thousand, Six Hundred Fifty -five Dollars ($391,655.00) are hereby appropriated and ordered set apart from the Allocation Fund to the Parking Garage Principal and Interest Account of the Redevelopment District Bond Fund for the purpose of making lease rental payments due during 1994 on the Lease. 2. Funds from the Allocation Fund in the amount of Three Hundred Fifty -six Thousand, Six Hundred Fifty -five Dollars ($356,655.00) are hereby appropriated and ordered set apart from the Allocation Fund to the South Bend Central Development Area Public Improvement Project Principal and Interest Account of the Redevelopment District Bond Fund for the purpose of making lease rental payments due during the twelve month period beginning July 1, 1994 on the Lease. 3. Funds from the Allocation Fund in the amount of One Hundred Ninety -seven Thousand Dollars ($197,000.00) are hereby appropriated and ordered set apart from the Allocation Fund to the Palais Royale Acquisition District Bond Fund for the purpose of making the lease rental payments described hereinabove. If any part, section, subsection, sentence, clause or phrase of this Resolution is for any reason declared to be invalid or otherwise disapproved by any person or body authorized to take action with respect to this same, such decision shall not affect the validity or effect of the remaining portions of this Resolution. Adopted at the regular meeting of the South Bend Redevelopment Commission, held on July 16, 1992, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana. SOUTH BC�!NcX�.t_- EVBy: ` Paula N. Auburn, President Theo IF. - r,� ML:Res1171