No. 0776 supplemental appropriation resolution one COSB redevelopment district tax increment revenue bonds of 1986

Home Browse Search

the necessary funds and an extraordinary emergency and necessity exists for the making of the additional appropriation set out herein; and WHEREAS, the Secretary of this Commission has caused notice of a hearing on said appropriation to be published as required by law; and WHEREAS, such public hearing was held on June 13, 1986, at 10:00 a.m., E.S.T., at 1200 County -City Building, 227 West Jefferson Blvd., South Bend, Indiana 46601, on said appropriation at which all taxpayers' and interested persons had an opportunity to appear and express their views as to such additional appropriation: NOW, THEREFORE, BE IT RESOLVED BY.THE COMMISSION THAT:. Section 1. The proceeds.derived.from the sale of the bonds heretofore authorized to be issued and designated as "City of South Bend Redevelopment District Tax 'Increment Revenue Bonds of 1986 11,be, and they are hereby, appropriated by the Commission for the purpose of providing funds to be applied to the cost of property acquisition and redevelopment in the Allocation Area together with expenses incidental thereto and in connection with the issuance of the bonds not provided for in the existing budget and tax levy. Section 2. Such appropriation shall be in addition to all appropriations provided for in the existing budget and levy, and shall continue in effect until the completion of the activities described in Section 1 above. Any surplus of such proceeds shall be credited to the proper fund as provided by law. -2-