No. 1098 a preliminary bond authorizing the issuance of tax increment revenue bonds of the redevelopment district of the COSB for the purpose of raising money for redevelopment purposes in the SBCDA allocation area No. 1A

Home Browse Search

WHEREAS, Resolution No. 737 was amended by Resolution No. 834, adopted by the Commission on March 11, 1988, and confirmed by Resolution No. 836, adopted by the Commission on April 15, 1988, g which resolutions expanded the South Bend Central Development Area 3 by adding Expansion Area No. 1; and WHEREAS, Resolution No. 737 was further amended by E Resolution No. 893, adopted by the Commission on October 27, 1989, which resolution expanded the South Bend Central Development Area F G by adding Expansion Area No. 2 and Expansion Area No. 3; and i j WHEREAS, the Commission, by adoption of Resolution No. 737, established the South Bend Central Allocation Area (South Bend k Allocation Area No. 1A) (the "Allocation Area ") which Allocation Area has also been expanded so that the boundaries of the Allocation Area are coterminous with the South Bend Central Development Area; and WHEREAS, the Commission, in accordance with the Act has e previously established the South Bend Central Allocation Area i j (South Bend Allocation Area No. 1A) Special Fund (the "Allocation Fund "); and WHEREAS, IC 36 -7 -14 -25.1 provides that, in addition to other methods of raising money for property acquisition or redevelopment in a blighted area, a redevelopment commission may issue bonds to finance the expenses reasonably incurred in connection with the acquisition and redevelopment of property; and 2