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No. 0752 amending Section 6 of Res. No. 747 of the COSBRC
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No. 0752 amending Section 6 of Res. No. 747 of the COSBRC
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of the Bonds with respect to the bonds and the Parity <br />Bonds. In estimating the Tax Increment to be <br />received in any future year, the Certifier shall base <br />his calculation on assessed valuation actually <br />assessed or to be assessed as of the assessment date <br />immediately preceding the issuance of the Parity <br />Bonds; provided, however, the Certifier shall adjust <br />such assessed values for the current and future <br />reductions of real property tax abatements granted to <br />property owners in the Allocation Area. No increase <br />in the Tax Increment to be received in any future <br />year shall be assumed which results from projected <br />inflation in property values or projected increases <br />in property tax rates. <br />The Commission shall approve and confirm the findings <br />and estimates set forth in the above - described certificate in any <br />supplemental resolution authorizing the issuance of the Parity <br />Bonds. <br />SECTION II. Resolution No. 747 shall .remain in all <br />other respects as adopted on August 23, 1985. <br />Approved this 18th day of November, 1985, at a Special <br />Meeting of the South Bend Redevelopment Commission. <br />D /30 <br />SOUTH BEND REDEVELOPMENT COMMISSION <br />ATTEST: -_ <br />ROMAN — Pin IAMCKISecretary <br />-2- <br />
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