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respective taxing units in the manner prescribed in Section 39 of the Act because the <br />Commission hereby finds that the amount by which the assessed value of the taxable property in <br />the Allocation Area for the most recent assessment date minus the base assessed value, when <br />multiplied by the estimated tax rate of the allocation area, will exceed the amount of assessed <br />value needed to produce the property taxes necessary to make, when due, principal and interest <br />payments on bonds, plus the amount necessary for other purposes described in Section 39. In <br />making this determination, the Commission has considered the effect that such determination <br />will have on the property tax rate in the Redevelopment District. <br />2. This determination for 2015 shall not be construed to affect any future <br />determination of the Commission with respect to the capture of assessed value of the taxable <br />property in the Allocation Area in the years following 2015. <br />3. The President or Vice President of the Commission is hereby authorized and <br />directed to immediately notify or cause to be notified the South Bend Common Council of its <br />determinations made herein; and thereafter to provide notice to the St. Joseph County Auditor, <br />the Common Council, and the officers who are authorized to fix budgets, tax rates, and tax levies <br />under Indiana Code 6- 1.1 -17 -5 for each taxing unit located wholly or partly within the respective <br />Allocation Areas of the determinations made by the Common Council, through the use of a letter <br />in such form as may be recommended by legal counsel, such approval to be conclusively <br />evidenced by the execution of said letter. <br />