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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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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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(c) Pay the principal of and interest on Bonds <br />payable from allocated tax proceeds in the <br />Allocation Area and from the special tax levied <br />under Section 27 of the Act; <br />(d) Pay the principal of and interest on Bonds <br />issued by the City to pay for local public <br />improvements in the Allocation Area; <br />(e) Pay premiums on the redemption before <br />maturity of Bonds payable solely or in part <br />from allocated tax proceeds in the Allocation <br />Area; <br />(f) Make payments on leases payable from <br />allocated tax proceeds in the Allocation Area <br />under Section 25.2 of the Act; <br />(g) Reimburse the City for expenditures made <br />by it for local public improvements (which <br />include buildings, parking facilities, and <br />other items described in Section 25. 1(a) of the <br />Act) within the Allocation Area; <br />(h) Reimburse the City for rentals paid by it <br />for a building or parking facility in the <br />Allocation Area under any lease entered into <br />under IC 36 -1 -10; <br />(i) Pay expenses incurred by the Commission <br />for local public improvements that are located <br />in or serving the Allocation Area. Public <br />improvements include buildings, parking <br />facilities, and other items described in <br />Section 25.1(a) of the Act; or <br />(j) Pay all or a portion of a property tax <br />replacement credit to taxpayers in the <br />Allocation Area; <br />Provided, however, that if further uses of property tax proceeds <br />allocated to the Allocation Fund are authorized or permitted by <br />amendment to the Act, including IC 36- 7- 14 -39, those uses shall <br />also be authorized or permitted for property tax proceeds allocated <br />to the Allocation Fund; and <br />WHEREAS, the Commission has heretofore issued certain Tax <br />Increment Revenue Bonds in the aggregate principal amount of Four <br />Million Two Hundred Thousand and 00/100 Dollars ($4,200,000.00), <br />designated Tax Increment Revenue Bonds of 1985 (the "Series 1985 <br />Bonds ") issued pursuant to Resolution No. 747 and Amending <br />4 <br />
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