No. 0942 determining tax increment needed to satisfy obligations of the commission regarding the Studebaker Corridor Allocation Area (No. 6)

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combined with future investment earnings on that balance and the resultant tax increment to be collected in 1991, will not be sufficient to satisfy the anticipated obligations of the Commission over the term or terms of those anticipated obligations, and that therefore all of the potential captured assessment for the Allocation Area in 1991 shall be treated as captured assessment (as defined in the Regulations). In making this determination, the Commission has considered the effect that the determination will have on the property tax rate in the Redevelopment District. 3. Any one of the President, Vice President and Secretary of the Commission is hereby authorized and directed to immediately notify the St. Joseph County Auditor of the determination made herein by the Commission. ADOPTED at a meeting of the South Bend Redevelopment Commission held on June 27, 1990, at the office of the Commission, located at 1200 County -City Building, 227 W. Jefferson Boulevard, South Bend, Indiana. SOUTH BEND REDEVELOPMENT COMMISSION �yNtz, resident ATTEST: c.. Roman Piasecki, Secretary -3- \ rlhill\ studbakr \resoluti \ludete=.tif;cl;June 25, 1990;