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No. 0762 designating Studebaker Corridor Dev. Area, declaring SCDA blighted, approving a dev. plan/conditions under which relocation pmts. will be made, and establishing allocation area for purposes of TIF
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No. 0762 designating Studebaker Corridor Dev. Area, declaring SCDA blighted, approving a dev. plan/conditions under which relocation pmts. will be made, and establishing allocation area for purposes of TIF
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Special Fund is sufficient to pay when due all principal of and <br />interest on bonds described in subdivisions (A), (C) and (D) of <br />paragraph 10 and is not needed for other purposes described in <br />subdivision (B) and (D) of paragraph 10 or as permitted by <br />amendments to the Act, including I.C. 36- 7- 14 -39, the excess in this <br />Special Fund shall be paid to the City for uses permitted by I.C. <br />36- 7- 14- 39(g). <br />12. When the funds are no longer needed for purposes permitted <br />in paragraphs 10 and 11 above, money in the Special Fund in excess <br />of that amount shall be paid to the respective taxing units in the <br />manner prescribed I.C. 36- 7- 14- 39(b)(1). <br />13. Property taxes and property tax proceeds as used in this <br />resolution shall mean taxes imposed under I.C. 6 -1.1 on real <br />property and taxes imposed under I.C. 6 -1.1 on depreciable personal <br />property that has a useful life in excess of eight (8) years, as <br />determined by the State Board of Tax Commissioners. <br />14. The Secretary is directed to file certified copies of this <br />Resolution with the St. Joseph County Auditor and the Portage <br />Township Assessor. <br />15. The United States and HUD are assured of full compliance by <br />the Commission and the Department with HUD regulations effectuating <br />Title VI of the Civil Rights Act of 1964, as amended. <br />16. This Resolution, together with supporting data, shall be <br />submitted to the Area Plan Commission of St. Joseph County and the <br />Common Council of the City, as provided by I.C. 36- 7- 14 -16, for <br />their approval of the Resolution and Plan, and if approved by both <br />bodies, the Resolution and Plan shall be submitted to public hearing <br />and remonstrance as provided by I.C. 36- 7- 14 -17, after public notice <br />in accordance with I.C. 36- 7 -14 -17 and I.C. 5 -3 -1. <br />Adopted at a meeting of the South Bend Redevelopment Commission <br />held on January 10, 1986, at the Office of the Commission, 1200 <br />County -City Building, 227 W. Jefferson Boulevard, South Bend, <br />Indiana 46601. <br />CITY OF SOUTH BEND, INDIANA <br />DEPARTMENT OF REDEVELOPMENT <br />'4 • F. Jay Ni tz, Pr sident <br />m mm nt Coissio <br />Commission <br />-5- <br />A, TES, <br />Romat %j'. Piase <br />ki , Secretary <br />CITY OF SOUTH BEND, INDIANA <br />DEPARTMENT OF REDEVELOPMENT <br />'4 • F. Jay Ni tz, Pr sident <br />m mm nt Coissio <br />Commission <br />-5- <br />
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