Laserfiche WebLink
Common Council and thereafter to provide notice to the St. Joseph County Auditor, the Common <br />Council, and the fiscal officers for each taxing unit located wholly or partly within the respective <br />Allocation Areas before July 15 of each year written notice of the following: the amount, if any, <br />of excess assessed value that the Common Council has determined may be allocated to the <br />respective taxing units in the manner prescribed in Section 39; and <br />WHEREAS, the Commission, in accordance with the Act, has determined that for tax <br />year payable 2015, all of the assessed value in the Allocation Area is excess assessed value and <br />may be allocated to the respective taxing units in the manner prescribed in Section 39 of the Act <br />because the Commission has found that the amount by which the assessed value of the taxable <br />property in the Allocation Area for the most recent assessment date minus the base assessed <br />value, when multiplied by the estimated tax rate of the allocation area, will exceed the amount of <br />assessed value needed to produce the property taxes necessary to make, when due, principal and <br />interest payments on bonds, plus the amount necessary for other purposes described in Section <br />39; and <br />WHEREAS, the Commission, in accordance with the Act, has submitted its <br />determination to the Common Council for confirmation or modification; and <br />WHEREAS, the Common Council finds that the determination made by the Commission <br />is appropriate and should be confirmed. <br />NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF <br />THE CITY OF SOUTH BEND, INDIANA: <br />Section 1. Confirmation of Commission's Determination. <br />The Common Council confirms the determination made by the Commission that for tax <br />year payable 2015, all of the assessed value in the Allocation Area is excess assessed value and <br />may be allocated to the respective taxing units in the manner prescribed in Section 39 of the Act <br />pursuant to the findings made by the Commission that the amount by which the assessed value of <br />the taxable property in the Allocation Area for the most recent assessment date minus the base <br />assessed value, when multiplied by the estimated tax rate of the allocation area, will exceed the <br />amount of assessed value needed to produce the property taxes necessary to make, when due, <br />principal and interest payments on bonds, plus the amount necessary for other purposes <br />described in Section 39. <br />