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<br />• F(~I~ I~>1I2I~f~~;r;:~ ~3I• "I'_~ I~i(= I~EiII:`~TAL ~'I~i.~~i~IN~, TII:~T: <br />A. Fc,r hurp~~ses nfthe allucatiim prnvision~ of the Act, as authorized by ind C~~dc ti ~C~- <br />7-l~l-i}, and tts usrc] u~ this 1Zrsolution for the pw'poses of distribution of real property taxes, the <br />"all~>catiou area' of the Northeast 1`lrighhorhood Develuptt~ent Area, and which area is ntorr .ntirre <br />particularly described in E.ihibit "A"attached hereto and incorporated herein; and <br />B- Attu' real prupr.rty taxes hereinafter' levied by or for the benefit of any public hotly <br />entitled t~~ ;t di~tr~ihution ui hrnpc°rtv taxes un tasahlr prtl>>ert}~ within the alhicatir>n tu-ra he ;tll~~catc'd <br />and distrihutr~l a~ t~~lh~~~~~~: <br />t 1 > 1=,xcept its otherwise provided in this section, the pri~e;e'ed. ut~ the taxes <br />~atnhut~th{e h~ the lrssw uf: <br />( -\1 the ~tssr.ssetl v<tlnr. ~~1 tllc pt~t~pcrty tier ihr ;!~~r~,~inrtt' cl;ttr <br />with respect tit which the allocation ~nui distrihutiutt is ntadr: nr <br />t ~ i ;.Ire hose a;sesscd valor. <br />~i ~.;l~ ~,t ~a ~ii~al~~l i:~ ~litd, V~'hc'II ~alilrl: ied_ h:.Ull illtu Ii}~ I;JI;~I> ~~f illy <br />l ~1~Ci;tIR iltlln~.! t1lillti <br />- !'.A~el~[ :1,~ ithl'I-V1'h;C 1~1'U1~111CC~ Ill tins SCCtilllt. hl'tli~Cl~tV' r~l\ I~r~)~C'rd~ I11 CVCC`;~ <br />~~1 iht,~~ ~l~s~rihed ut suhdivt~tun ! l) shall he allocarrd tit rite re~ir~~~~l~~hnteitr. <br />~listri<t :u;d, ~.~,-hen ~ollrct~d, paiel int~.~ an alli~catiun fund f~~~r rh;lt _t•,L.~eati~~tt <br />~u; a t[utt iu11~ i~~ uu~1 h~ the redc.vclctpntent diSU i.;i ~~ui1 ;~~ ~t,~ ~~it~ i 1 ; ~,; <br />m~n~r ~~t the t~,~lht~~~in~~: <br />(~~l Pay the principal of and interest i)n ~ttr~' nhli~*~ttic,ns pa~'ahle <br />tiolrly front allucuted tax proceeds ~~~Itich are ntcurred by the <br />rrde~'eli?pntrnt district for the purpitse of tin~utcina~ nr rrtinancim~ the <br />redrvelopntent of the allocation area; <br />(BJ Esr~thlislt, au<<ntent, ur restore the debt service reserve tier <br />hund.ti payable sulcly ur u~ part frun~ allocated tax l~mcrr.cls in tltr <br />allocation area: <br />(C) Pay the principal t?f and interest on bonds payable h-otrt <br />allocated tax prt3ceeds iu that allocation area and ii-~~tn the spec-ial tax <br />twirl under Ind. Code ti 36-7-14-27; <br />t I~~i F';t~ the hrin~ipal t,~ :utd interest stn Lnn;L• r~>tic~~l h~' the C'it~ <br />ufsuuth Bend to pay fur local public; intpritventent~ itt ur ser~'in<< the <br />• <br />19 <br />