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I-I.- -I,. <br />RESOLUTION NO. 903 <br />rw A PRELIMINARY BOND RESOLUTION OF THE <br />SOUTH BEND REDEVELOPMENT COMMISSION <br />AUTHORIZING THE ISSUANCE OF <br />REDEVELOPMENT DISTRICT BONDS <br />FOR THE PURPOSE OF PROCURING FUNDS TO <br />PAY FOR THE COST OF PROPERTY ACQUISITION <br />AND REDEVELOPMENT IN THE <br />STUDEBAKER CORRIDOR DEVELOPMENT 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 IC 36 -7 -14, as amended from time to <br />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 incorporated <br />herein as Exhibit "A" designated by the Commission as the Studebaker <br />Corridor Development Area (the "Area ") in the South Bend <br />Redevelopment Special Taxing District (the "Redevelopment District ") <br />which is a special taxing district having the same boundaries as the <br />City of South Bend, Indiana (the "City "), is blighted within the <br />meaning of the Act, establishing the Area as an Allocation Area for <br />purposes of tax incremental financing as authorized by IC 36- 7- 14 -39, <br />and determining that it would be of public utility and benefit to <br />-1- <br />