No. 0242 assuring disposition of certain parcels of land in connection with the Central Downtown Project IND R-66

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the and as t to a RESOLUTION NO. 242 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION ASSURING DISPOSITION OF CERTAIN PARCELS OF LAND IN CONNECTION WITH THE CENTRAL DOWNTOWN PROJECT, IND. R -66 (HEREAS, the United States of America (hereinafter called ,overnment ") has approved Part I of the Application for Loan ,ant on September 23, 1968 for a certain project identified Central Downtown Project, Ind. R -66 (hereinafter referred the "Project"); and HEREAS, it is anticipated that the City of South Bend Department of Redevelopment (hereinafter called the "Local Public Agency") will enter into a certain Loan and Capital Grant Contract with the Government for said project which said Contract may be identified as Contract Ind. R -66 (LG) ; and HEREAS, the Government has requested assurance that certain parcels within the Urban Renewal Plan designated for public use will be pu chased for said public use; and HEREAS, it may become necessary for the Redevelopment Com- missi i n to acquire the disposition parcels hereinafter described in order to carry out the purposes of the Urban Renewal Plan; and HEREAS, under the provisions of the Redevelopment of Cities and T wns Act of 1953, as amended, of the State of Indiana, the South Bend ledevelopment Commission, which is the Governing Body of the City Df South Bend, Department of Redevelopment, has the power to sell Jonds to finance certain Urban Renewal project activities, in- cludi g purchase of disposition parcels, and to levy a tax against the R development Tax District not to exceed 2% of the total assessed value of that District in order to repay said bonds; OW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commi sion, the Governing Body of the City of South Bend, Department of Re evelopment, as follows: That in the event it becomes necessary, in order to carry out the purposes of the Urban Renewal Plan of the said Central Downtown Project, Ind. R -66, the Redevelopment Commission does hereby commit itself to purchase in whole or in part, as may be necessary, the following described disposition parcels in said project area: Block 5, Parcel 1 Block 11, Parcel 1 hat the necessary monies for the purchase of said parcels shall be financed from the sale of Redevelopment District Bonds as autho ized under the State of Indiana Redevelopment of Cities and Towns Act of 1953, as amended.