No. 0819 authorizing issuance of bonds on parity with COSB redevelopment district tax increment revenue bonds of 1985 & 1986 for purpose of raising money for property acquisition and redevelopment in SBCAA

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r ,%t RESOLUTION NO. 819 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT r', COMMISSION AUTHORIZING THE ISSUANCE OF BONDS ON PARITY WITH THE CITY OF SOUTH BEND REDEVELOPMENT DISTRICT TAX INCREMENT REVENUE BONDS OF 1985 AND THE CITY OF SOUTH BEND REDEVELOPMENT DISTRICT TAX INCREMENT REVENUE BONDS OF 1986 FOR THE PURPOSE OF RAISING MONEY FOR PROPERTY ACQUISITION AND REDEVELOPMENT IN THE SOUTH BEND CENTRAL ALLOCATION AREA WHEREAS, the South Bend Redevelopment Commission ( "Commission ") is the governing body of the South Bend, Indiana, Department of Redevelopment ( "Department ") , and exists and operates under the provisions of Indiana Code 36 -7 -14, as amended from time to time ( "Act "); and WHEREAS, the Commission, in accordance with the Act and former redevelopment law, adopted Resolution No. 737 on May 10, 1985, ( "Declaratory Resolution "), which declared an area as more particu- larly described on the map attached hereto and incorporated herein as Exhibit A (such area is hereinafter referred to as the "South Bend Avk Central Development Area ") in the South Bend Redevelopment District (the "Redevelopment District "), which is a special taxing district having the same boundaries as the City of South Bend, Indiana (the "City "), to be blighted within the meaning of the Act or such former redevelopment law and determined that it would be of public utility and benefit to acquire such area and redevelop it pursuant to the South Bend Central Development Plan, South Bend, Indiana; and WHEREAS, the Commission, in accordance with the Act has pre- viously established the South Bend Central Allocation Area (South Bend Allocation Area No. 1A) (the "Allocation Area ") which has boundaries coterminous with the South Bend Central Development Area; and WHEREAS, the Commission, in accordance with the Act has pre- viously established the South Bend Central Allocation Area (South Bend Allocation Area No. 1A) Special Fund (the "Allocation Fund "); and WHEREAS, the Allocation Area consists of the following parcels with base assessment dates for allocation of taxes on real property in such parcels as follows: Parcel 1 is an area within the Allocation Area as more particularly described in Exhibit B attached hereto and incorporated herein with the base assess- ment date of March 1, 1980; -1-