No. 0926 regarding the insufficiency of a remonstrance relating to the $4,900,000 COSB redevelopment district bonds of 1990

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RESOLUTION NO. 926 RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION REGARDING THE INSUFFICIENCY OF A REMONSTRANCE RELATING TO THE $4,900,000 CITY OF SOUTH BEND REDEVELOPMENT DISTRICT BONDS OF 1990 WHEREAS, a petition has been filed under the provisions of IC 6- 1.1 -20 -3 by more than fifty (50) owners of real property subject to taxation in the South Bend Redevelopment District (the "District ") to authorize and issue bonds of the District payable from a special tax to be levied upon all of the taxable property in the District, in one or more series or issues, in an aggregate principal amount not to exceed Four Million Nine Hundred Thousand Dollars ($4,900,000), for the purpose of procuring funds to pay for the cost of property acquisition and redevelopment in the Studebaker Corridor Development Area (the "Area "), together with a sum sufficient to pay the estimated cost of all expenses reasonably incurred in connection with the acquisition and redevelopment of the Area, including the total cost of all land, rights -of -way and other property to be acquired and redeveloped, all reasonable and necessary architectural, engineering, legal, financing, accounting, advertising, bond discount and supervisory expenses, capitalized interest and expenses the Commission may be required to pay as "relocation assistance" under IC 8 -13 -18.5, together with the expenses in connection with or on account of the issuance of bonds therefor, all in and with respect to the Area; and -1-