No. 1074 determining tax increment needed to satisfy obligations of the commission regarding the Rum Village Industrial Park Allocation Area (No. 4)

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investment earnings on that balance is not sufficient to meet the uses by the Commission of such sum pursuant to Section 39(b)(2) of the Act. 2. The Commission further determines that the capture of only a portion of the potential captured assessment in 1993 will result in a balance in the Allocation Fund in 1993 that, when combined with future investment earnings on that balance and the resultant tax increment to be collected in 1993, will not be sufficient to satisfy the obligations of the Commission of such sum pursuant to Section 39(b)(2) of the Act, and that therefore all of the potential captured assessment for the Allocation Area in 1993 shall be treated as captured assessment (as defined in the Regulations). In making this determination, the Commission has considered the effect that the determination will have on the property tax rate in the Redevelopment District. 3. Any one of the President, Vice President and Secretary of the Commission is hereby authorized and directed to immediately notify the St. Joseph County Auditor of the determination made herein by the Commission. Adopted at a meeting of the South Bend Redevelopment Commission held on July 10, 1992, at the Office of the Commission, located at co 1200 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601. SOUTH B ND REDEVELOPMENT COMMISSION BY: 77 °" Paula N. Auburn, President ATTEST: Michael Donoho, Secretary Res1074