No. 1118 authorizing issuance of bonds on parity with COSB redevelopment district tax increment revenue bonds of 1985, 1986, 1988 for the purpose of raising money for redevelopment in the SBCAA

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RESOLUTION NO. 1118 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION AUTHORIZING THE ISSUANCE OF BONDS ON PARITY WITH THE CITY OF SOUTH BEND REDEVELOPMENT DISTRICT TAX INCREMENT REVENUE BONDS OF 1985, THE CITY OF SOUTH BEND REDEVELOPMENT DISTRICT TAX INCREMENT REVENUE BONDS OF 1986 AND THE CITY OF SOUTH BEND REDEVELOPMENT DISTRICT TAX INCREMENT REVENUE BONDS OF 1988 FOR THE PURPOSE OF RAISING MONEY FOR REDEVELOPMENT IN THE SOUTH BEND CENTRAL ALLOCATION AREA 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 IC 36 -7 -14, as amended from time to time (the "Act "); and WHEREAS, the Commission, in accordance with the Act and f former redevelopment law, adopted Resolution No. 737 on May 10, 1985, ( "Declaratory Resolution "), which declared an area as more particularly described on the map attached hereto and incorporated herein as Exhibit A (such area is hereinafter referred to as the "South Bend Central Development Area ") in the South Bend Redevelopment District (the "Redevelopment District "), which is a special taxing district having the same boundaries as the City of South Bend, Indiana (the "City ") , to be blighted within the meaning of the Act or such former redevelopment law and determined that it would be of public utility and benefit to acquire such area and redevelop it pursuant to the South Bend Central Development Plan, South Bend, Indiana; and WHEREAS, Resolution No. 737 was amended by Resolution No. 834, adopted by the Commission on March 11, 1988, and confirmed by Resolution No. 836, adopted by the Commission on April 15, 1988, which resolutions expanded the South Bend Central Development Area by adding Expansion Area No. 1; and WHEREAS, Resolution No. 737 was further amended by Resolution No. 893, adopted by the Commission on October 27, 1989, which resolution expanded the South Bend Central Development Area by adding Expansion Area No. 2 and Expansion Area No. 3; and WHEREAS, the Commission, by adoption of Resolution No. `✓ 737, established the South Bend Central Allocation Area (South Bend Allocation Area No. 1A) (the "Allocation Area ") which Allocation Area has also been expanded so that the boundaries of the Allocation Area are coterminous with the South Bend Central Development Area; and