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12U0 ~'.oUNTY-CITY BUILDING <br />SOUTH BEND, INDIANA 46601-1830 <br />PHONE 574/ 235-9371 <br />FAx 574/ 235-9021 <br />TDD 574/ 235-5567 <br />CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR <br />COMMUNITY ~ ECONOMIC DEVELOPMENT <br />JON R. HUNT <br />EXECUTIVE DIRECTOR <br />May 19, 2003 <br />South Bend Common Council <br />4"' Floor Council Chambers <br />400 County-City Building <br />South Bend, IN 46601 <br />Dear Council Member: <br />The attached bill for your consideration will create a new Fund to be known as the South Bend <br />Redevelopment District Allocation Area Capital Fund #428. <br />This bill is related to the issuance of Tax Increment Finance Revenue Bonds, Series 2003 <br />(Airport Economic Development Area), as authorized by the Redevelopment Commission's <br />Resolution No. 1965. This bond covers the City's costs for road improvement projects and part <br />of the City's commitment to the Bosch project for building renovations. <br />Resolution No. 1965 requires the creation of this Capital Fund, as does Indiana Code 36-7-14-26. <br />The Capital Fund will receive the bond proceeds which will be disbursed for the above noted <br />project costs. <br />I appreciate your consideration of this bill, and if you have any questions, please feel free to call <br />me at 235-9339. I will present this bill at your June 9`'' meeting. <br />Sincerely, <br />Donald E. Inks <br />~ ~~ <br />Director <br />Division of Economic Development <br />cc: John March <br />Elizabeth Leonard <br />~'e12~ 3~ ~~~~sa'~ ~~fsG~ <br />~r~~?~' 2 ~ ?60 <br />LO^n~TTA d. sKl3 =~ <br />C1TY CLEFt!~, °.A. ~:3:~,1 ;, <br />H:\WPDATA\~dfi4Nil9t~E'PY~~LOPMENT ECONOMIC DEVELOPMENT FINANCIAL SC PROGRAM <br />PAMELA C. MEYER DONALD E. INKS MANAGEMENT' <br />574/235-9660 574/235-9371 ELIZABETH LEONARD ~u <br />FAx: 574/235-9697 574/235-9371 <br />