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No. 0947 authorizing the reimbursement of the commission and the city for payments of necessary preliminary expenses actually incurred preliminary to the issuance of redevelopment district tax increment revenue bonds out of the proceeds of the bonds
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No. 0947 authorizing the reimbursement of the commission and the city for payments of necessary preliminary expenses actually incurred preliminary to the issuance of redevelopment district tax increment revenue bonds out of the proceeds of the bonds
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RESOLUTION NO. 947 <br />RESOLUTION OF THE CITY OF SOUTH BEND REDEVELOPMENT COMMISSION <br />CW AUTHORIZING THE REIMBURSEMENT OF THE COMMISSION AND <br />THE CITY FOR PAYMENTS OF NECESSARY PRELIMINARY EXPENSES ACTUALLY <br />INCURRED PRELIMINARY TO THE ISSUANCE OF REDEVELOPMENT DISTRICT TAX <br />INCREMENT REVENUE BONDS OUT OF THE PROCEEDS OF THE BONDS <br />WHEREAS, the South Bend Redevelopment Commission (the <br />"Commission ") , governing body of the City of South Bend Department <br />of Redevelopment (the "Department ") and the Redevelopment District <br />of the City of South Bend, Indiana (the "Redevelopment District ") , <br />on the 23rd day of February, 1990 adopted a resolution declaring <br />the Airport Economic Development Area (the "Area ") to be an <br />economic development area within the meaning of IC 36 -7 -14; and <br />WHEREAS, the Commission in the same resolution created and <br />designated the Airport Economic Development Area, Allocation Area <br />No. 1 (the "Allocation Area ") , the boundaries of which are <br />coterminous with the boundaries of the Area; and <br />WHEREAS, the Commission intends, pursuant to IC 36 -7 -14 -25.1, <br />to issue Redevelopment District tax increment revenue bonds (the <br />"Bonds ") to finance property acquisition and redevelopment in or <br />serving the Allocation Area and all expenses reasonably incurred <br />in connection with the property acquisition and redevelopment in <br />or serving the Allocation Area, including but not limited to all <br />reasonable and necessary architectural, engineering, legal, <br />financing, accounting, advertising, and supervisory expenses <br />related to the property acquisition and redevelopment in or serving <br />the Allocation Area, or the issuance of the Bonds; and <br />
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