No. 0747 authorizing the issuance of tax increment revenue bonds for the purpose of raising money for property acquisition and redevelopment in the SBCDA

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k C L RESOLUTION NO. 747 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION AUTHORIZING THE ISSUANCE OF TAX INCREMENT REVENUE BONDS FOR THE PURPOSE OF RAISING MONEY FOR PROPERTY ACQUISITION AND REDEVELOPMENT IN THE SOUTH BEND CENTRAL DEVELOPMENT 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 "); WHEREAS, the Commission in accordance with the Act and former redevelopment law has previously declared an area as more particularly described on the map attached hereto and incorporated herein as Exhibit A (such area is hereinafter referred to as the "South Bend 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; WHEREAS, the Commission, in accordance with the Act has previously established the South Bend Central Allo- cation Area (South Bend Allocation Area No. 1A) (the "Alloca- tion Area ") which has boundaries coterminous with the South Bend Central Development Area; WHEREAS, the Commission in accordance with the Act has previously established the South Bend Central Allocation Area (South Bend Allocation Area No. 1A) Special Fund (the "Allocation Fund "); 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;