Approving the Transfer of Certain Real Estate by the South Bend Board of Public Works to South Bend Redevelopment Authority

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RESOLUTION NO. / -7 7 1 -2D A RESOLUTION OF THE COMMON COUNCIL OF SOUTH BEND, INDIANA APPROVING THE TRANSFER OF CERTAIN REAL ESTATE BY THE SOUTH BEND BOARD OF PUBLIC WORKS TO THE SOUTH BEND REDEVELOPMENT AUTHORITY WHEREAS, on February 26, 1990, the South Bend Board of Public Works, after a public hearing pursuant to I.C. 36- 1 -11 -3, adopted Resolution No. 4 -1990 indicating its intention to transfer certain public right -of -way and public property located within the South Bend Redevelopment Commission's South Bend Central Development Area, and more completely described in said Resolution, which is attached hereto and made a part hereof, to the South Bend Redevelopment Authority for public improvement; and, WHEREAS, all public right -of -way and public property addressed in the Board of Public Works Resolution are in need of public improvement; and, WHEREAS, pursuant to South Bend Redevelopment agreement with the South financing and constructs, Bend Central Development in said Resolution; and, I.C. 36 -7 -14 -25.2 and I.C. 36 -7- 14.5 -14, the Commission has entered into a lease Bend Redevelopment Authority for the 3n of public improvements within the South Area, including those properties described WHEREAS, the South Bend Redevelopment Authority is authorized by I.C. 36 -7- 14.5 -19 to issue bonds in order to finance public improvements in the South Bend Central Development Area as set forth in I.C. 36 -7- 14.5 -11, and the Authority intends to issue such bonds for public improvement in that area; and, WHEREAS, I.C. 36 -7- 14.5 -11 requires that the South Bend Redevelopment Authority hold title to the real estate and public improvements to be made thereon with bond proceeds; and, WHEREAS, pursuant to I.C. 36- 1 -11 -3, the transfer of said property by the Board of Public Works is subject to the approval of the Mayor and the Common Council; and, WHEREAS, on February 27, 1990, the Mayor approved the Board of Public Works Resolution indicating its intention to transfer said property. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City South Bend, Indiana, as follows: SECTION I. The transfer of portions of public right -of -way and public property located in the South Bend Central Development Area and described in South Bend Board of Public Works Resolution No. 4 -1990, which is attached hereto and made a part hereof, to the South Bend Redevelopment Authority pursuant to I.C. 36- 1 -11 -3 and I.C. 36- 1 -11 -8 for public improvement consistent with the purposes set forth in I.C. 36 -7 -14.5 is hereby approved. SECTION II. This Resolution shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor. PRESENTED 3-IA-'70 C:CVP NOT APPROVED ADOPTED 3. to -goy QO Q//»-eitl0