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1 <br /> I <br /> i <br /> E <br /> i <br /> l <br /> t <br /> t <br /> No. 1 Allocation Fund" (the "Allocation Fund"), and may be used only as <br /> provided in the Act, and more particularly to (i) pay the principal of and it <br /> p p Y (�) p Y <br /> interest on any obligations payable solely from allocated tax proceeds <br /> which are incurred by the Redevelopment District for the purpose of <br /> financing or refinancing the redevelopment of the Area; (ii) establish, <br /> augment, or restore the debt service reserve for bonds payable solely or in <br /> part from allocated tax proceeds in Area; (iii)pay the principal of and <br /> interest on bonds payable from allocated tax proceeds in Area and from <br /> the special tax levied under Section 27 of the Act; (iv) pay the principal of l <br /> t <br /> and interest on bonds issued by the City to pay for local public <br /> improvements in or serving Area; (v)pay premiums on the redemption <br /> before maturity of bonds payable solely or in part from allocated tax <br /> proceeds in Area; (vi) make payments on leases payable from allocated <br /> tax proceeds in Area under Section 25.2 of the Act; (vii) reimburse the <br /> City for expenditures made by it for local public improvements (which <br /> include buildings, parking facilities, and other items described in Section <br /> 25.1(a) of the Act) that are physically located and physically connected to <br /> the Area; (viii) reimburse the City for rentals paid by it for a building or <br /> parking facility that are physically located and physically connected to the l' <br /> Area under any lease entered into under Indiana Code 36-1-10; (ix)pay all <br /> or a portion of a property tax replacement credit to taxpayers in Area as <br /> determined by the Commission in accordance with the provisions of the 1 <br /> Act; (x)pay expenses incurred by the Commission for local public <br /> improvements that are in or serving Area (public improvements include <br /> buildings, parking facilities and other items described in Section 25.1(a) of <br /> the Act); (xi) reimburse expenses incurred in training employees of <br /> industrial facilities that are located in Area and on a parcel of real property <br /> t <br /> that has been classified as industrial property under the rules of the <br /> Department of Local Government Finance in accord with the provisions of I- <br /> the Act; and (x)pay the costs of carrying out an eligible efficiency project t. <br /> (as defined in Indiana Code 36-9-41-1.5) subject to the restrictions set for <br /> in Section 39(b)(2)(c) of the Act. <br /> 1 <br /> provided, however, that if future uses of property tax proceeds allocated to the Allocation Fund <br /> are authorized or permitted by amendments to the Act, including Sections 39 and 43, after the <br /> effective date of this Resolution, those uses shall also be authorized or permitted for property tax F <br /> proceeds allocated to the Allocation Fund. <br /> t. <br /> 16. Except as provided in Section 39(g) of the Act, before July 15 of each <br /> year,the Commission shall do the following: <br /> (a) determine the amount, if any, by which the assessed value of the taxable t9 <br /> property in the allocation area for the most recent assessment date minus <br /> the base assessed value, when multiplied by the estimated tax of the Area <br /> will exceed the amount of assessed value needed to produce the property <br /> Ctaxes necessary to make, when due, principal and interest payments on f, <br /> 1 <br /> US.54706909.04 - 7 <br /> 1 <br />