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No. 0925 authorizing the issuance/sale of special taxing district bonds of the SB redevelopment district for purpose of raising money for property acquisition and redevelopment in the Studebaker Corridor Dev Area
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No. 0925 authorizing the issuance/sale of special taxing district bonds of the SB redevelopment district for purpose of raising money for property acquisition and redevelopment in the Studebaker Corridor Dev Area
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i' <br />RESOLUTION NO. 925 <br />J A FINAL BOND RESOLUTION OF THE SOUTH BEND <br />REDEVELOPMENT COMMISSION AUTHORIZING THE ISSUANCE AND SALE <br />OF SPECIAL TAXING DISTRICT BONDS OF THE SOUTH BEND <br />REDEVELOPMENT DISTRICT FOR THE PURPOSE OF <br />RAISING MONEY FOR PROPERTY ACQUISITION AND <br />REDEVELOPMENT IN THE STUDEBAKER CORRIDOR DEVELOPEMT AREA <br />WHEREAS, the South Bend Redevelopment Commission (the <br />"Commission ") is the governing body of the South Bend, Indiana <br />Department of Redevelopment (the "Department "), and exists and <br />operates under the provisions of Indiana Code 36 -7 -14, as amended <br />from time to time (the "Act "); and <br />WHEREAS, the Commission, in accordance with the Act, has <br />previously adopted its Resolution No. 762 (the "Declaratory <br />Resolution ") on January 10, 1986, declaring that an area more <br />particularly described on the map attached hereto and <br />incorporated herein as Exhibit "A" designated by the Commission <br />as the Studebaker Corridor Development Area (the "Area ") in the <br />South Bend Redevelopment Special Taxing District (the "District ") <br />which is a special taxing district having the same boundaries as <br />the City of South Bend, Indiana (the "City "), is blighted within <br />the meaning of the Act, establishing the Area as an Allocation <br />Area for purposes of tax increment financing as authorized by <br />IC 36- 7- 14 -39, and determining that it would be of public utility <br />and benefit to acquire such area and redevelop it pursuant to the <br />Studebaker Corridor Development Plan (the "Development Plan "); <br />and <br />WHEREAS, the South Bend Common Council (the "Common <br />Council ") at its regular meeting on January 27, 1986, adopted its <br />Resolution No. 1398 -86 approving the order of the Plan Commission <br />with regard to the Area which was adopted by said Plan Commission <br />in its Resolution No. 87 on January 21, 1986; and <br />WHEREAS, on February 14, 1986, after notice and a public <br />hearing thereon, the Commission in its Resolution No. 764 <br />confirmed the Declaratory Resolution; and <br />WHEREAS, said Declaratory Resolution was subsequently, after <br />approval of the Plan Commission and the Common Council, as <br />described herein, amended by Resolution No. 801 adopted on <br />April 24, 1987, and by Resolution No. 809 adopted on August 28, <br />1987, with said amending Declaratory Resolutions being confirmed, <br />after notice and a public hearing, by Resolution No. 804 adopted <br />on June 26, 1987, and Resolution No. 816 adopted on October 23, <br />1987, respectively; and <br />
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