No. 1142 supplemental appropriation resolution of the COSBRC

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RESOLUTION NO. 1142 SUPPLEMENTAL APPROPRIATION RESOLUTION 3 OF THE CITY OF SOUTH BEND REDEVELOPMENT COMMISSION WHEREAS, the South Bend Redevelopment Commission (the "Commission"), has heretofore on March 5, 1993, adopted Resolution No. 1140, the provisions of which Resolution are hereby included herein by this reference thereto, determining to pay expenses incurred by the Commission for local public improvements that are in or serving the Studebaker Corridor Development Area with the proceeds from the sale or other disposition of land situated within the Studebaker Corridor Development Area by the Commission, which proceeds have been paid into Fund 433, the Redevelopment General Fund; and WHEREAS, the amount of funds in the Redevelopment General Fund proposed to be expended for said expenses incurred by the Commission is Forty -eight Thousand, Four Hundred Dollars ($48,400.00); and WHEREAS, the Commission did not include the appropriation of said funds in any regular budget for the year 1993; and WHEREAS, there are insufficient funds available or provided for in the existing budget and tax levy which may be applied to such expenses and the expenditure of such amount from the Redevelopment General Fund has been authorized by the Commission to procure the necessary funds and an extraordinary emergency and necessity exists for the making of the additional appropriation set out herein; and WHEREAS, the Secretary of the Commission has caused notice of a hearing on said appropriation to be published as required by law; and WHEREAS, such public hearing was held on March 19, 1993, at 10:00 a.m., E.S.T., at Room 1308, County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601, on said appropriation at which all taxpayers and interested persons had an opportunity to appear and express their views as to such additional appropriation. NOW, THEREFORE, BE IT RESOLVED by the Commission that: 1. Funds from the Redevelopment General Fund in the amount of Forty -eight Thousand, Four Hundred Dollars ($48,400.00) be, and they are hereby, appropriated by the Commission for the purpose of providing funds to be applied to pay the expenses incurred by the Commission for local public improvements that are in or serving the Studebaker Corridor Development Area as more fully described in Exhibit "A" hereto. 2. Such appropriation shall be in addition to all appropriations provided for in the existing budget and levy and shall continue in effect until the completion of the activities described in Section 1 above. Any surplus of such proceeds shall be credited to the proper fund as provided by law. 3. The President and Secretary of the Commission be and they are hereby authorized and directed to certify a copy of this Resolution together with such other proceedings and actions as may be necessary to the Indiana State Board of Tax Commissioners for the purpose of obtaining the approval of said Board of the additional appropriation herein made.