No. 1151 designating the SEDA, declaring the SEDA to be blighted, approving a development plan and conditions under which relocation payments will be made, and establishing an allocation area for purposes of TIF

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Parcel Five: Bend Allocation described in the assessement date The area described in paragraph 13.E., as South Area No. 8, Parcel 5, and coterminus with the area 4th WHEREAS clause as Expansion Area No. 1, base of March 1, 1993. 17. Nothing herein shall be construed to change the base assessment date for the allocation provisions for each parcel within the Sample -Ewing Allocation Area (South Bend Allocation Area No. 8), as stated in paragraph 16 above. 18. The special funds created by Resolutions No. 650 and 762 shall be and hereby are merged for purposes of the Act and this Resolution into a special fund, hereby created, for the Sample -Ewing Allocation.Area to be known as Sample -Ewing Allocation Area (South Bend Allocation Area No.8) Special Fund (Special Fund). 19. The enterprise zone funds created by Resolutions No. 952 and 953 shall be and hereby are merged for purposes of the Act and this Resolution into an enterprise zone fund, hereby created, for the Sample -Ewing Allocation Area (South Bend Allocation Area No. 8) to be known as the Sample - Ewing Development Area Enterprise Zone Fund. 20. With regard to taxes levied on property in the Sample -Ewing Allocation Area (South Bend Allocation Area No. 8), property tax proceeds in excess of those attributable to the lesser of: (a) the assessed value of the property before the assessment date with respect. to which the allocation and distribution is made; or (b) the assessed value of all property as finally determined for the assessment date initially preceding the effective date (as listed in paragraph 18 above) of the allocation.provisions of the pertinent declaratory resolutions establishing the former allocation areas, now individual parcels within Sample -Ewing Allocation Area. (South Bend.Allocation Area No. 8), shall be allocated to the South Bend Redevelopment District, and, when collected, paid into the Special Fund, that may be used by the Commission only to: a. Pay the principal of and interest on any obligations payable solely from allocated tax proceeds which are incurred by the redevelopment district for the purpose of financing or refinancing the redevelopment of that allocation area; b. Establish, augment or restore the debt service reserve for bonds payable solely or in part from allocated tax proceeds in that allocation area; c. Pay the principal of and interest on bonds payable from allocated tax proceeds in that allocation area and from the special tax levied under I.C. 36- 7- 14 -27; d. Pay the principal of and interest on bonds issued.by the City to pay for local public improvements in or serving the allocation area; e. Pay premiums on the redemption before maturity of bonds payable solely or in part from allocated tax proceeds in the allocation area; f. Puke payments on leases payable from allocated tax premiums in the allocation area under L.C. 36 -7 -14 -25.2; g. Reimburse the City for expenditures made by it for local public improvements (which include buildings, parking IL facilities, and other items described in I.C. 36- 7- 14- 25.1(a)) in or serving the allocation area; -25-