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w <br />� P, � (-5) <br />RESOLUTION NO. 3092 <br />A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION <br />APPROPRIATING AND TRANSFERRING MONIES FOR THE PURPOSE OF FUNDING <br />CERTAIN PROJECTS FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2013, AND <br />ENDING DECEMBER 31, 2013 <br />(2003 Downtown Bond) <br />WHEREAS, the South Bend Redevelopment Commission (the "Commission ") has caused to be <br />issued several bonds funding the development of certain local public improvements located within the <br />various development areas in the City of South Bend; and <br />WHEREAS, to provide for the repayment of such bonds, the Commission has established <br />several Debt Service Funds and has deposited monies into those funds for the purpose of repaying those <br />bonds; and <br />WHEREAS, the Debt Service Funds earn interest income over the course of the year which can <br />be appropriated and transferred for the use of the Commission pursuant to IC 36- 7- 14 -39, during calendar <br />year 2013; and <br />WHEREAS, the Debt Service Funds also contain monies held in reserve to guarantee that <br />payments can be made on said bonds, which, at the end of the life of the bonds are no longer required to <br />be held in the Debt Service Fund and become available for the Commission's use in accordance with IC <br />36- 7- 14 -39; and <br />WHEREAS, the Commission has determined it is necessary and desirable to appropriate the <br />interest income and other available monies of the various Debt Service Funds and to transfer those <br />monies to the appropriate fund as specified in Exhibit A for the use of the Commission in accordance <br />with the uses specified in IC 36- 7- 14 -39. <br />NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT <br />COMMISSION AS FOLLOWS: <br />1. For the expenditures of the SBCDA General Account Fund 420, for the fiscal year 2013, <br />the sums of money, as set forth in Exhibit A, attached hereto and made a part hereof, are hereby <br />appropriated and ordered transferred out of the SBCDA 2003 Debt Reserve Fund 328 and into the <br />SBCDA General Account Fund 420, and for the purposes hereinafter specified, subject to the laws <br />governing the same. The sums hereby appropriated and transferred shall be deemed to include all <br />expenditures authorized to be made in said year, unless otherwise expressly stipulated or provided by law. <br />2. For the fiscal year ending December 31, 2013, the above referenced appropriations are <br />made within the South Bend Central Development Area. <br />3. The above referenced funds herein appropriated are hereby ordered transferred to the <br />