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NOW, THEREFORE, BE IT RESOLVED, by this South Bend <br />MMIk Redevelopment Commission as follows: <br />Section 1. There is hereby created and established <br />a Redevelopment District Bond Fund to consist of a Palais Royale <br />Acquisition Project Principal and Interest Account and such other <br />accounts as the Commission shall from time to time establish. <br />Section 2. The Commission shall deposit or cause to <br />be deposited into the Palais Royale Acquisition Project Principal <br />and Interest Account on or before the issuance of the Bonds an <br />amount sufficient to pay the lease rental payments payable pursuant <br />to the Lease on January 28, 1993; July 28, 1993; and January 28, <br />1994. <br />Section 3. 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 />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 />sufficient, together with all other funds in the Palais Royale <br />Acquisition Project Principal and Interest Account deposited into <br />such account from any other sources (other than such special taxes) <br />during the previous 12 calendar months prior to August 1 of such <br />calendar year, to pay all lease rental payments payable in the <br />12 -month period beginning on July 1 of the following calendar year <br />pursuant to Section 4 of the Lease. Such taxes shall be deposited <br />in the Palais Royale Acquisition Project Principal and Interest <br />Account and such taxes and any other funds in the Palais Royale <br />-2- <br />