No. 0927 amending its resolution No. 915 adopted February 16, 1990

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RESOLUTION NO. 927 RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION AMENDING ITS RESOLUTION NO. 915 ADOPTED FEBRUARY 16, 1990 WHEREAS, the South Bend Redevelopment Commission (the "Commission ") previously adopted, on February 16, 1990, Resolution No. 915, entitled "Resolution of the South Bend Redevelopment Commission Establishing Certain Funds and Accounts in Connection with the Lease Dated as of November 1, 1989, Between the South Bend Redevelopment Commission and the South Bend Redevelopment Authority Relating to the South Bend Central Development Area Public Improvement Project and Other Related Matters" (the "Pledge Resolution "); and WHEREAS, the Commission now finds it necessary to make a certain technical amendment to the Pledge Resolution as a result of the change in the lease payment schedule made in the Addendum to Lease dated April 6, 1990, between the Commission and the South Bend Redevelopment Authority; 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 second 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 other funds in the South Bend Central Development Area Public Improvement Project Principal and Interest Account deposited into such account from any other sources (other than such special taxes) during the previous 12 calendar months prior to August 1 of such calendar year, to pay all lease rental payments payable in the 12 -month period beginning on July 1 of the following calendar year. SECTION 2. All other terms and conditions of the Pledge Resolution shall remain in full force and effect. SECTION 3. This Resolution shall be in full force and effect after its adoption by the Commission.