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No. 1088 establishing certain funds/accounts in connection w/ dease dated 7/1/92 between the SBRC and SBRA relating to Blackthorn Golf Course project and other related matters
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No. 1088 establishing certain funds/accounts in connection w/ dease dated 7/1/92 between the SBRC and SBRA relating to Blackthorn Golf Course project and other related matters
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10/18/2012 2:56:02 PM
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Order approving the lease pursuant to IC 6 -1.1- 18.5 -8 on July 24, <br />AWN t <br />F 1992; and <br />i <br />WHEREAS, the President and Secretary of the Commission <br />have executed and attested, respectively, the Lease and Notice of <br />Execution and Approval of the Lease was published on August 1, <br />1992, in accordance with IC 36 -7 -14 -25.2; <br />P <br />NOW, THEREFORE, BE IT RESOLVED, by this South Bend <br />t <br />Redevelopment Commission as follows: <br />Section 1. There is hereby created and established <br />i <br />a Redevelopment District Bond Fund to consist of a Blackthorn Golf <br />Course Project Principal and Interest Account and such other <br />i <br />I accounts as the Commission shall from time to time establish. <br />' Section 2. The Commission shall levy in each calendar <br />year beginning in the year prior to the first calendar year in <br />which the Commission is required to pay lease rentals pursuant to <br />j the Lease, a special tax upon all of the taxable property in the <br />City of South Bend Redevelopment District in a total amount <br />f <br />sufficient, together with all other funds in the Blackthorn Golf <br />Course Project Principal and Interest Account deposited into such <br />account from any other sources (other than such special taxes) <br />during the previous 12 calendar months prior to August 1 of such <br />i <br />calendar year, to pay all lease rental payments payable in the <br />s 12 -month period beginning on July 1 of the following calendar year <br />I <br />pursuant to Section 4 of the Lease. Such taxes shall be deposited <br />in the Blackthorn Golf Course Project Principal and Interest <br />Account and such taxes and any other funds in the Blackthorn Golf <br />-2- <br />
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