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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shall be allocated to the Redevelopment District and, when collected, paid into the Allocation Fund, and may be used by the Commission only to do one (1) or more of the following: (a) Pay the principal and interest on any obligations payable solely from allocated tax proceeds which are in- curred by the Redevelopment District for the purpose of financing or refinancing the redevelopment of the Alloca- tion Area. (b) Establish, augment, or restore the debt service reserve for bonds payable solely or in part from allo- cated tax proceeds in the Allocation Area; (c) Pay the principal of and interest on bonds payable from allocated tax proceeds in the Allocation Area and from the special tax levied under Section 27 of the Act; (d) Pay the principal of and interest on bonds issued by the City to pay for local public improvements in the Allo- cation Area; (e) Pay premiums on the redemption before maturity of bonds payable solely or in part from allocated tax pro- ceeds in the Allocation Area; (f) Reimburse the City for expenditures made b y it for local public improvements (which include buildings, parking facilities, and other items described in Section 25.1(a) of the Act) within the Allocation Area; or (g) Reimburse the City for rentals paid by it for a building or parking facility in the Allocation Area under any lease entered into under IC 36 -1 -10; provided, however, that if further uses of property tax proceeds allocated to the Allocation Fund are authorized or permitted by amendment to the Act, including IC 36- 7- 14 -39, those uses shall also be authorized or permitted for property tax proceeds allocated to the Allocation Fund; and WHEREAS, the Commission has heretofore issued certain tax incre- ment revenue bonds in the aggregate principal amount of Four Million Two Hundred Thousand Dollars ($4,200,000), designated Tax Increment Revenue Bonds of 1985 ( "Series 1985 Bonds ") issued pursuant to Resolu- tion No. 747 and Amending Resolutions 752, 755 and 756 (Resolution No. 747, as amended, shall hereinafter be referred to as the "Series 1985 Bond Resolution "), adopted August 23, 1985, November 18, 1985, November 22, 1985 and December 20, 1985, respectively, which bonds in the amount of Four Million Two Hundred Thousand Dollars ($4,200,000) are outstanding as of November 1, 1987 and will mature in various amounts annually on February 1 of each year beginning on February 1, 1990 through and including February 1, 2003; and -3-