HomeMy WebLinkAboutNo. 2141 supplemental appropriation resolution of the COSB Redevelopment Commission (South Bend central development area)4* y
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RESOLUTION NO. 2141
SUPPLEMENTAL APPROPRIATION RESOLUTION
OF THE CITY OF SOUTH BEND REDEVELOPMENT COMMISSION
(SOUTH BEND CENTRAL DEVELOPMENT AREA)
WHEREAS, the South Bend Redevelopment Commission (the "Commission "), has
heretofore on February 4, 2005 adopted Resolution No. 2132, the provisions of which
Resolution are hereby included herein by this reference thereto, determining to make lease
payments for local public improvements that are in or serving the South Bend Central
Allocation Area (South Bend Allocation Area No. 1 A) (the "Allocation Area ") and to pay
expenses incurred by the Commission for local public improvements that are in or serving
the Allocation Area with property tax proceeds that have been paid into the South Bend
Central Allocation Area (South Bend Allocation Area No. 1 A) Special Fund (the "Allocation
Fund ") pursuant to IC 36- 7- 14- 39(b)(2)(F) and IC 36- 7- 14- 39(b)(2)(J); and
WHEREAS, the amount of funds in the Allocation Fund proposed to be expended
for said expenses incurred by the Commission is Five Million One Hundred Twenty
Thousand Seven Hundred Five Dollars ($5,120,705); and
WHEREAS, the Commission did not include said funds in any regular budget for the
year 2005; and
WHEREAS, there are insufficient funds available or provided for in the existing
budget and tax levy which may be applied to such expenses and the expenditure of such
amount from the Allocation Fund has been authorized by the Commission to procure the
necessary funds and an extraordinary emergency and necessity exists for the making of
the additional appropriation set out herein; and
WHEREAS, the Secretary of the Commission has caused notice of a hearing on
said appropriation to be published as required by law; and
WHEREAS, such public hearing was held on February 18, 2005, at 10:00 a.m.,
E.S.T., at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana
46601, on said appropriation at which all taxpayers and interested persons had an
opportunity to appear and express their views as to such additional appropriation.
NOW, THEREFORE, BE IT RESOLVED by the Commission that:
1. Funds from the Allocation Fund in the amount of Five Million One Hundred
Twenty Thousand Seven Hundred Five Dollars ($5,120,705) be, and they are hereby,
appropriated by the Commission for the purpose of providing funds to make lease rental
payments and to pay expenses incurred by the Commission for local public improvements
that are in or serving the Allocation Area as more fully described in Exhibit "A" hereto.
2. Such appropriation shall be in addition to all appropriations provided for i t he
existing budget and levy and shall continue in effect until the completion of the activities
described in Section 1 above. Any surplus of such proceeds shall be credited to the proper
fund as provided by law.
3. The President and Secretary of the Commission be and they are hereby
authorized and directed to certify a copy of this Resolution together with such other
proceedings and actions as may be necessary to the St. Joseph County Auditor for
certification to the Indiana State Board of Tax Commissioners for the purpose of obtaining
the approval of said Board of the additional appropriation herein made.
ADOPTED at a regular meeting of the South Bond Redevelopment Commission held on
February 18, 2005 at 1308 County-City Building, 227 West Jefferson Boulevard, South
Bend, Indiana 46601.
SOUTH BEND R� ELOPMENT COMMISSION
By: 1,
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ATTEST: G K!'Lng_o�censident
:Robert W. Hunt, Secretary
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RESOLUTION NO. 2141
EXHIBIT "A"
Description of Expenditure
Appropriation of tax increment in the South Bend Central Allocation Area (South Bend
Allocation Area No. 1 A) for making lease payments payable for local public improvements
in or serving the Allocation Area payable pursuant to IC36-7-14-39(b)(2)(F) and for local
public improvements in or serving the South Bend Central Development Area Allocation
Area No. 1 A ("Allocation Area No. 1 A") as may be authorized by IC 36-7-14-39(b)(2)(J) and
IC 36- 7- 14- 25.1(a) in a total amount not to exceed Five Million One Hundred Twenty
Thousand Seven Hundred Five Dollars ($5,120,705).
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