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RESOLUTION NO. 904 <br />A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION <br />APPROPRIATING THE PROCEEDS (INCLUDING INVESTMENT EARNINGS <br />THEREON) OF BONDS OF THE REDEVELOPMENT DISTRICT <br />TO BE APPLIED TO THE COST OF PROPERTY ACQUISITION <br />AND REDEVELOPMENT IN THE STUDEBAKER CORRIDOR DEVELOPMENT AREA <br />WHEREAS, the South Bend Redevelopment Commission (the <br />"Commission "), on December 27, 1989, adopted its Resolution No. 903 <br />entitled "A PRELIMINARY BOND RESOLUTION OF THE SOUTH BEND <br />REDEVELOPMENT COMMISSION AUTHORIZING THE ISSUANCE OF REDEVELOPMENT <br />DISTRICT BONDS FOR THE PURPOSE OF PROCURING FUNDS TO PAY FOR THE COST <br />OF PROPERTY ACQUISITION AND REDEVELOPMENT IN THE STUDEBAKER CORRIDOR <br />DEVELOPMENT AREA," the provisions of which resolution are hereby <br />included herein by this reference thereto, determining to issue <br />special taxing district bonds of the South Bend Redevelopment <br />District payable from a special tax levied upon all of the taxable <br />property in the Redevelopment District in one or more series or <br />issues, in an aggregate principal amount not to exceed Four Million <br />Nine Hundred Thousand Dollars ($4,900,000) for the purpose of <br />procuring funds for property acquisition and redevelopment in the <br />Studebaker Corridor Development Area (the "Area ") together with <br />expenses incidental thereto and expenses in connection with the <br />issuance of the bonds, which principal amount (together with <br />investment earnings thereon in the approximate amount of $300,000) <br />does not exceed the cost of property acquisition and redevelopment in <br />the Area together with such incidental and related expenses; and <br />WHEREAS, this Commission did not include the proceeds (including <br />-1- <br />