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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in the Allocation Area, allocated and deposited in the Allocation Fund pursuant to the provisions of Section 39 of the Act and proceeds from the sale or leasing of property in the Allocation rr Area under Section 22 of the Act deposited in the Allocation Fund as required by Section 26 of the Act (these sources of revenues that will be used for payments of the Bonds shall hereinafter be referred to as the "Tax Increment ") and WHEREAS, on September 18, 1992, the Commission adopted its Resolution No. 1098 (the "Preliminary Bond Resolution ") authorizing the issuance and sale of the negotiable Bonds of the City of South Bend Redevelopment District, in one or more series or issues, the principal of and interest on which are payable solely from taxes on real property in the Allocation Area allocated and deposited in the Allocation Fund pursuant to Section 39 of the Act and proceeds from the sale or leasing of property in the Allocation Area under Section 22 of the Act deposited into the Allocation Fund as required by Section 26 of the Act (the "Tax Increment "), which Preliminary Bond Resolution provided that the Bonds shall be issued in the name of the City, for and on behalf of the Redevelopment District, in an aggregate principal amount not to exceed Three Million and 00 /100 Dollars ($3,000,000.00) and which amount (together with investment earnings thereon in the approximate amount of Twenty -Five Thousand and Six Hundred and 00/100 Dollars ($25,600.00) does not exceed the cost of redevelopment in the Allocation Area relating to certain costs that will be incurred in connection with the College Football Hall of Fame Project (the "Project "), together with the sums sufficient to pay the estimated cost of all expenses reasonably incurred in connection with redevelopment in the Allocation Area related to the Project, including the total cost of all reasonable and necessary architectural, engineering, legal, financing, accounting, bond discount and supervisory expenses, capitalized interest and a debt service reserve for the Bonds as provided herein, together with the expenses in connection with the issuance of the Bonds therefore; and WHEREAS, the Commission published or caused to be published a Notice to Taxpayers Regarding Determination to Issue Bonds of the Redevelopment District of the City of South Bend, following which publication a petition objecting to the proposed issuance of the Bonds was filed with the St. Joseph County Auditor in accordance with IC 6- 1.1 -20 -5 on October 6, 1992; and WHEREAS, the State Board of Tax Commissioners (the "Board ") directed that a hearing occur in the Redevelopment District which hearing was held on November 5, 1992, regarding the objecting petition following which hearing and the affirmative recommendation of the Local Government Tax Control Board, the Board approved the issuance of the Bonds on December 2, 1992; and Es?