No. 0973 amending Resolution No. 968 in connection with lease dated as of 8-1-90 between the SBRC and SBRA relating to AEDA public improvement project (tax-exempt improvements)

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the Commission pursuant to said Lease pursuant to Resolution No. 968, adopted on December 21, 1990 and entitled "Resolution of the South Bend Redevelopment Commission Establishing Certain Funds and Accounts in Connection with the Lease Dated as of August 1, 1990 Between the South Bend Redevelopment Commission and the South Bend Redevelopment Authority Relating to the Airport Economic Development Area Public Improvement Project (Tax - Exempt Improvements) and Other Related Matters" (the "Pledge Resolution "); and WHEREAS, the Commission now finds it necessary to make a certain amendment to the Pledge Resolution; NOW, THEREFORE, BE IT RESOLVED, by this South Bend Redevelopment Commission as follows: Section 1. The first sentence of Section 2 of the Pledge Resolution is hereby amended to read as follows: Section 2. The Commission shall levy in each calendar year beginning in the year prior to the first calendar year in which the Commission is required to pay lease rentals pursuant to the Lease, a special tax upon all of the taxable property in the City of South Bend Redevelopment District in a total amount sufficient, together with all funds in the Airport Economic Development Area Public Improvement Project Principal and Interest Account deposited into such account from any other sources (other than such special taxes) or anticipated to be deposited into such account from any other sources (other than such special taxes) through the end of the following calendar year, to pay all lease rental payments payable in the 12 -month period beginning on July 1 of the following calendar year pursuant to Section 4 of the Lease. Section 2. All other terms and conditions of the Pledge Resolution shall remain in full force and effect. -2- \restarke \sobend \reso1.973;1 /9/91