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No. 0910 determining to pay certain expenses incurred for local public improvements in or serving the SBCAA (No. 1A)
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No. 0910 determining to pay certain expenses incurred for local public improvements in or serving the SBCAA (No. 1A)
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10/18/2012 3:15:22 PM
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1/17/2012 12:02:50 PM
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IM <br />WHEREAS, the Commission desires to pay expenses incurred by it <br />for local public improvements that are in or serving the Allocation <br />Area with property tax proceeds deposited in the Allocation Fund <br />pursuant to the Act; <br />WHEREAS, such payments are authorized pursuant to Section <br />39(b) (2) (J) of the Act and are subject to the provisions of <br />IC 6- 1.1 -18 -5; and <br />WHEREAS, the expenditures incurred by the Commission proposed to <br />be paid with property tax proceeds deposited in the Allocation Fund <br />are described on the attached Exhibit "A"; and <br />WHEREAS, the Commission desires to approve said payments from the <br />Allocation Fund in the total amount as described on Exhibit "A"; and <br />WHEREAS, the Commission, with the advice of its financial <br />advisor, has determined that such expenditure will not endanger the <br />interests of the holders of any obligations heretofore issued or <br />incurred by the Commission and payable from the Allocation Fund; and <br />WHEREAS, the proposed payment from the Allocation Fund as <br />provided for herein is not for the operating expenses of the <br />Commission. <br />NOW, THEREFORE, BE IT RESOLVED, by the South Bend Redevelopment <br />Commission, governing body of the City of South Bend Department of <br />Redevelopment, as follows: <br />-2- <br />
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