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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WHEREAS, certain preliminary expenses relating to the property acquisition and redevelopment in or serving the Allocation Area have been and will continue to be incurred by the Commission or incurred or advanced on behalf of the Commission by the City of South Bend (the "City ") before the issuance and delivery of the Bonds; and WHEREAS, the Commission desires to establish its intent that the Commission and the City be reimbursed for said preliminary costs from the proceeds of the Bonds pursuant to IC 5- 1 -14 -6; NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission, as follows: 1. The Commission hereby establishes its intent, pursuant to IC 5- 1 -14 -6, that the Commission and the City be reimbursed for preliminary costs incurred by the Commission or incurred or advanced by the City on behalf of the Commission relating to the property acquisition and redevelopment in or serving the Allocation Area from the proceeds of the Bonds to be issued by the Commission. 2. This Resolution shall be in full force and effect after its adoption by the Commission. ADOPTED at a rescheduled meeting of the South Bend Redevelopment Commission held on the 27th day of June, 1990 at the -2- \rlhill \sthbnd \airport \1u- 947;1a;June 27, 1990;