No. 0965 amending resolution No. 919 to expand the AEDA and amend the economic development plan for the AEDA

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serving Allocation Area No. 1; (viii) reimburse the City for rentals paid by it for a building or parking facility in or serving Allocation Area No. 1 under any lease entered into under IC 36 -1 -10; (ix) pay all or a portion of a property tax replacement credit to taxpayers in Allocation Area No. 1 as determined by the Commission in accordance with the provisions of the Act; (x) pay expenses incurred by the Commission for local public improvements that are in or serving Allocation Area No. 1. Public improvements include buildings, parking facilities and other items described in Section 25.1(a) of the Act; provided, however, that if future uses of property tax proceeds allocated to the Allocation Fund are authorized or permitted by amendments to the Act, including Sections 39 and 43, after the effective date of this Resolution, those uses shall also be authorized or permitted for property tax proceeds allocated to the Allocation Fund. 13. Except as provided in Section 39(g) of the Act, before July 15 of each year, the Commission shall do the following: (a) determine the amount, if any, by which property taxes payable to the Allocation Fund in the following year will exceed the amount of property taxes necessary to make, when ' due, principal and interest payments on bonds described in Paragraph 12(c) plus the amount necessary for the other { purposes described in Paragraph 12(a). (b) notify the County Auditor of the amount, if any, of the amount of excess property taxes that the Commission has determined may be paid to the respective taxing units in the manner prescribed in Paragraph 12(a). The Commission may not authorize the payment to the respective taxing units if to do so would endanger the interests of the holders of bonds described in Paragraph 12(c) or lessors under Section 25.2 of the Act. 14. "Property Taxes" referred to herein shall mean taxes imposed under IC 6 -1.1 on real property only. 15. The Secretary is directed to file a certified copy of the Plan with the minutes of this meeting. 16. The officers of the Commission are hereby directed to make any and all required filings with the Indiana State Board of Tax Commissioners, the St. Joseph County Auditor, and the German Township Assessor in connection with Expanded Allocation Area No. 1 and No. 2. -10- tapitman \bonds \airport \res #965;11/08/90