No. 2390 a bond resolution authorizing the issuance of City of South Bend, Indiana, Redevelopment District Tax Increment Revenue Bonds of 2007 (Douglas Road Economic Development Area project)

Home Browse Search

• RESOLUTION NO. 2390 A BOND RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION AUTHORIZING THE ISSUANCE OF CITY OF SOUTH BEND, INDIANA, REDEVELOPMENT DISTRICT TAX INCREMENT REVENUE BONDS OF 2007 (DOUGLAS ROAD ECONOMIC DEVELOPMENT AREA PROJECT) WHEREAS, the South Bend Redevelopment Commission (the "Commission"), the governing body of the City of South Bend, Indiana, Department of Redevelopment (the "Department") and the Redevelopment District of the City of South Bend, Indiana (the "Redevelopment District"), exists and operates under the provisions of Indiana Code 36-7-14, as amended from time to time (the "Act"); and WHEREAS, the Commission previously adopted and approved a resolution (the "Declaratory Resolution") designating and declaring an area known as the Douglas Road Economic Development Area (the "Area") to be an economic development area within the meaning of the Act, designating the Area as an allocation area (the "Allocation Area") under • Section 39 of the Act, for the purpose of tax increment financing, and approving an economic development plan for the Area entitled (the "Economic Development Plan"); and WHEREAS, the Area Plan Commission of St. Joseph County (the "Plan Commission"), which is the duly designated and acting planning body of the City of South Bend, Indiana (the "City"), previously adopted and approved a resolution determining that the Declaratory Resolution and the Economic Development Plan conform to the plan of development for the City and approving, ratifying and confirming the Declaratory Resolution and the Economic Development Plan; and WHEREAS, the Common Council of the City (the "Common Council") adopted a resolution which approved the resolution of the Plan Commission; and WHEREAS, after notice and a public hearing thereon, the Commission confirmed the Declaratory Resolution by the adoption of a Confirmatory Resolution (the Declaratory Resolution, as confirmed by the Confirmatory Resolutions, shall hereinafter be referred to as the "Declaratory Resolution"); and WHEREAS, the Commission now finds that all conditions precedent to the adoption of a final bond resolution authorizing the issuance of tax increment revenue bonds to provide necessary funds to be applied to the costs of the Project and all authorized costs relating thereto, have been complied with in accordance with the provisions of the Act; and WHEREAS, the Commission, pursuant to the Declaratory Resolution and in accordance with the Act, has previously established the City of South Bend, Indiana, Department BDDBOI 4912282v3