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851%)9691 <br />distribution provisions of the Act, and more particularly as <br />follows: <br />(a) The proceeds of the taxes attributable to the lesser <br />of: <br />(1) the assessed value of the property for <br />the assessment date with respect to which <br />the allocation and distribution is made; <br />or <br />(2) the assessed value of all of the property <br />as finally determined for the assessment date <br />immediately preceeding the effective date of <br />these allocation provisions, which assessment <br />date is March 1, 1985, <br />shall be allocated to, and when collected shall be <br />paid into the funds of the respective taxing <br />units entitled to a distribution of such taxes. <br />(b) The property tax proceeds in excess of those <br />described in subdivision (a) above, shall be <br />allocated to the South Bend redevelopment district <br />and, when collected, paid into a special fund <br />hereinafter created in paragraph 23, and used for the <br />purposes permitted in paragraph 24 and by the Act. <br />20. In order to facilitate and enhance the replanning, <br />redevelopment, and disposal of property within the Area in the <br />manner that best serves the social and economic interest of South <br />Bend and its inhabitants, each of the allocation areas described <br />above in paragraphs 15A, 15B, 15C, 18A, 18B, 18C, and 18D shall be <br />and hereby is amended and merged for all purposes under the Act by <br />expanding the boundaries of each area to make the boundaries of each <br />area coterminous with the boundaries of the South Bend Central <br />Allocation Area (South Bend Allocation Area No. 1A), hereby <br />established, which boundaries shall be as follows: <br />Beginning at the point of intersection of the <br />south right -of -way line of Sample Street with the <br />west right -of -way line of Michigan Street; thence <br />north along said west right -of -way line of <br />Michigan Street to its intersection with the <br />northerly line of the Conrail Railroad (formerly <br />Penn Central) right -of -way; thence northwesterly <br />along said northerly railroad right -of -way line <br />-19- <br />