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WHEREAS, the expenditures incurred by the Commission proposed to be paid with property <br />tax proceeds deposited in the Allocation Fund are described on the attached Exhibit "A"; and <br />WHEREAS, the Commission desires to approve said payments from the Allocation Fund in <br />the total amount as described on Exhibit "A"; and <br />WHEREAS, the Commission has determined that such expenditure will not endanger the <br />interests of the holders of any obligations heretofore issued or incurred by the Commission and <br />payable from the Allocation Fund; and <br />WHEREAS, the proposed payment from the Allocation Fund as provided for herein is not for <br />the operating expenses of the Commission. <br />NOW, THEREFORE, BE IT RESOLVED, by the South Bend Redevelopment Commission, <br />governing body of the City of South Bend, Department of Redevelopment, as follows: <br />1. The Commission hereby approves the use of funds in the Allocation Fund in the amount <br />of Seven Million Dollars ($7,000,000) for purposes of making the lease payments as described on <br />Exhibit "A" and for paying the expenditures as further described on Exhibit "A". <br />2. The Secretary of the Commission is hereby authorized and directed to take all <br />necessary steps to obtain the approval of the expenditure of such funds pursuant to IC 6-1.1-18-5, <br />including the publication in accordance with IC 5-3-1 of notice of a hearing on the appropriation <br />of such funds to be held at 10:00 a.m., January 19, 2007, at 1308 County-City Building, 227 <br />West Jefferson Boulevard, South Bend, Indiana 46601. <br />ADOPTED at a Regular Meeting of the South Bend Redevelopment Commission held on <br />January 5, 200~l, at 1308 County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana <br />46601. <br />SOUTH BEND REDF~ELOPMENT COMMISSION <br />By: ~,^ <br />1 G Kin , V'ce r sident <br />ATTEST• , <br />L / <br />ego S. ownes, S cretary <br />• <br />