No. 2398 appropriating tax increment financing revenues from Allocation Area No. 1 Fund for the payment of certain obligations and expenses related to the Airport Economic Development Area Allocaiton Area No. 1

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Code ~ 36-714-39(b)(1) and from the proceeds from the sale or leasing of property in the Area under Indiana Code S 36-714-22, all in accordance with Indiana Code ~ 367-14-26; and WHEREAS, the Declaratory Resolution was further amended by the Resolution No. 2348 and Resolution No. 2351, adopted on June 19, 2007 and July 20, 2007 respectively and said resolution expanded the Area by adding and consolidating the SEDA into the Area (collectively referred to hereafter as the "Area") and expanded Allocation Area No. 1 by adding and consolidating the SEDA Allocation Area into Allocation Area No. 1 (collectively referred to hereafter as "Allocation Area No. 1"); and WHEREAS, under the Declaratory Resolution, the fiords and deposits of the SEDA Allocation Funds have further been consolidated and deposited with Allocation Area No. 1 Fund (collectively referred to hereafter as "Allocation Area No. 1 Fund"); and WHEREAS, the Commission desires to pay certain expenses incurred by it or the City for local public improvements that are in or serving Allocation Area No. 1 from funds remaining in the Allocation Area No. 1 Fund, in accordance Indiana Code § 36-714-39(b)(2) and certain other expenditures incurred by the Commission in accordance with Indiana Code ~ 367-1439(b)(2); and WHEREAS, the expenditures incurred or anticipated to be incurred by the Commission proposed to be paid with fiords from Allocation Area No. 1 Fund are described on the attached Exhibit A; and • WHEREAS, the proposed appropriations from Allocation Area No. 1 Fund are not for the operating expenses of the Commission; and WHEREAS, such appropriations are subject to the provisions of Indiana Code § 61.1-18 5; and WHEREAS, on December 7, 2007, the Commission adopted Resolution 2396 setting a public hearing on said appropriations for 10:00 a.m. on December 7, 2007 and authorizing the Secretary of the Commission to duly publish notice of said hearing; and WHEREAS, the Secretary of the Commission has caused notice of said hearing on said appropriations to be published in accordance with law; and WHEREAS, such public hearing was held at the Commission's meeting at 10:00 a.m. on December 7, 2007, at 1308 County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601, at which all taxpayers and interested persons had an opportunity to appear and express their views as to such additional appropriations; and WHEREAS, the Commission now desires to approve said appropriations in a total amount •