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WHEREAS, the Secretary of this Commission has caused notice <br />? of a public hearing on said appropriation to be published as <br />required by law; and <br />WHEREAS, such public hearing was held on November 20, 1992, <br />at 10:00 a.m. (local time) at 1308 County -City Building, 227 W. <br />Jefferson Boulevard, South Bend, Indiana, concerning said <br />appropriation at which all taxpayers and interested persons had an <br />opportunity to appear and express their views as to such additional <br />appropriation; and <br />WHEREAS, the Commission desires to appropriate the proceeds <br />derived from the sale of the Bonds and all investment earnings <br />thereon in the approximate amount of Twenty -Five Thousand Six <br />a Hundred and 00 /100 Dollars ($25,600.00) pending receipt of approval <br />of the issuance of the Bonds by the State Board of Tax <br />Commissioners (the "Board "); <br />NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment <br />Commission as follows: <br />1. The proceeds derived from the sale of the Bonds <br />heretofore authorized to be issued and all investment earnings <br />thereon in the approximate amount of Twenty Five Thousand Six <br />Hundred and 00/100 Dollars ($25,600.00) shall be, and are, hereby <br />appropriated by the Commission pending receipt of approval of the <br />issuance of the Bonds by the Board for the purpose of providing <br />funds to be applied to the cost of redevelopment in the Allocation <br />Area together with a sum sufficient to pay the estimated cost of <br />all expenses reasonably incurred in connection with redevelopment <br />3 <br />