No. 0945 preliminary bond resolution authorizing issuance of tax increment revenue bonds of the redevelopment district of COSB for purpose of raising money for property acquisition/redevelopment in or serving the AEDAAA No. 1

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bonds to the extent that the Commission determines that a reserve is reasonably required and expenses the Commission may be required or permitted to pay as "relocation assistance" under IC 8- 23 -17, together with the expenses in connection with or on account of the issuance of bonds therefor, all in and with respect to the Allocation Area, the City acting for and on behalf of the Commission, shall make a loan in an amount not to exceed Nine Hundred Fifty Thousand Dollars ($950,000). In order to procure funds for said loan, the Controller of the City is hereby authorized and directed to have prepared and to issue and sell the negotiable bonds of the Redevelopment District, in one or more series or issues, the principal of and interest on which are payable from taxes on real property located in the Allocation Area allocated and deposited in the Allocation Fund pursuant to the provisions of IC 36- 7 -14 -39 and proceeds from the sale or leasing of property in the Allocation Area under IC 36- 7 -14 -22 deposited in the Allocation Fund as required by IC 36- 7 -14 -26 (the "Tax Increment "), which bonds shall be issued in the name of the City, for and on behalf of the Redevelopment District, in an aggregate principal amount not to exceed Nine Hundred Fifty Thousand Dollars ($950,000) (the "Bonds "), with a discount not to exceed the discount as set forth in or determined by the Final Bond Resolution to be adopted by the Commission, and which amount (together with investment earnings thereon in the approximate amount of $15,000) does not exceed the cost of property acquisition and redevelopment in or serving the Allocation Area, -4- \rlhill \sthbnd \airport \1u- 945;cl;June 27, 1990;