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Lease Rental Revenue Debt <br />(Supported by Taxes and Other Revenues) <br />Date of Original Final Principal <br />Issue Amount Purpose of Issue Maturity Outstanding <br />8-I-88 4,575,000 Parking Facility Construction 2009 ,575,000 <br />9-I-88 5,685,000 Stadium Facility Acquisition 19975,685,000 <br />THE CITY OF SOUTH BEND <br />Although the Bonds do not pledge the full faith and credit of the City, the Bonds do <br />constitute an obligation of the Redevelopment Special Taxing District, the boundaries <br />o f which are coterminous with the City; and therefore, the following is presented for <br />informational purposes. <br />General Characteristics <br />Location: Wholly within St. Joseph County in northwestern Indiana, approximately <br />100 miles east of Chicago, Illinois. <br />Area: 36.4 square miles- <br /> Population City of South Bend St. Joseph County Source <br /> 1986 <br />1984. 107, 190 <br />107, 117 241, 400 <br />240, 623 Census Bureau Estimate <br />Census Bureau Esti mate <br /> I'980 109, 727 241, bI 7 1980 Federal Census <br /> 1970 125, 580 244, 827 1970 Federal Census <br />Trend of Assessed Values <br />Assessment Year <br />March I <br />Net <br />Assessed Value* <br />1987 <br />1986 <br />1985 <br />1984 <br />1983 <br />1982 <br />1981 <br />980 <br />43 4, 054, 73 5 <br />429,698,477 <br />433,033,280 <br />407, 023, 834 <br />417, 959, 626 <br />419, 048, 640 <br />416, 110, 969 <br />406,763,605 <br />* The assessed values shown are net figures after subracting the valuation of the <br />City's Urban Enterprise Zone and abated valuations. The assessed value of personal <br />property in the Urban Enterprise Zone totals $24,437,827 for 1987, and $23,940,420 <br />for 1986. This valuation is removed from the tax rolls for a period of ten years <br />beginning March 1, 1984. The Urban Enterprise Zone is part of a State program <br />which offers various State tax credits for businesses in targeted areas. Abatement <br />of real and personal property valuation reduces the taxable valuation o f property by <br />decreasing amounts over a term of up to ten years in accordance with State law and <br />local ordinance. The total abated valuation (not included in the net assessed .value <br />figure above) for real and personal property in 1986 was $19,595,830. The total <br />abated valuation for 1987 is not yet available. The net assessed values for 1984 <br />through 1987 do not include tat incremental assessed valuation. <br />_I2- <br />