No. 2981 appropriating/transferring TIF revenues from Allocation Area No. 2 fund to the SSDA Allocation Area No. 1 and other related matters

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WHEREAS, the Commission desires to authorize all funds received by the Commission for Allocation Area No. 2 Fund be transferred to the Allocation Area No. 1 Fund; and WHEREAS, the proposed appropriation and transfer of funds from Allocation Area No. 2 Fund to Allocation Area No. 1 Fund are not for the operating expenses of the Commission; and WHEREAS, such appropriations are subject to the provisions of Indiana Code § 6- 1.1 -18- 5; and WHEREAS, on December 13, 2011, the Commission adopted Resolution 2974 setting a public hearing on said appropriation and transfer for 4:00 p.m. on January 24, 2012 and authorizing the Secretary of the Commission to duly publish notice of said hearing; and WHEREAS, the Secretary of the Commission has caused notice of said hearing on said appropriation and transfer to be published in accordance with law; and WHEREAS, such public hearing was held at the Commission's meeting at 4:00 p.m. on January 24, 2012, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601, at which all taxpayers and interested persons had an opportunity to appear and express their views as to such appropriation and transfer; and WHEREAS, the Commission now desires to approve said appropriation and transfer in a total amount estimated not to exceed One Million Four Hundred Thousand and 00 /100 Dollars ($1,400,000.00); NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT COMMISSION AS FOLLOWS: The Commission hereby finds that there are insufficient funds available or provided for in the existing budget and tax levy which may be applied to those expenses and expenditures allowed by Indiana Code § 36- 7- 14 -39. 2. The Commission hereby appropriates and transfers all funds in Allocation Area No. 2 Fund to Allocation Area No. I Fund for further appropriation by the Commission in accordance with Indiana Code § 36- 7- 14 -39, which amount is not expected to exceed the amount of One Million Four Hundred Thousand and 00 /100 Dollars ($1,400,000.00). 3. Such appropriations shall be in addition to all the appropriations provided for in the existing budget and levy and shall continue in effect until the completion of the activities provided for by such further appropriations from Allocation Area No. 1. Any surplus of such proceeds shall be credited to the proper fund as provided by law. 4. The President and /or the Secretary of the Commission are hereby authorized and directed to certify a copy of this Resolution together with such other proceedings and actions as may be necessary to the St. Joseph County Auditor for certification to the Indiana Department of Local