HomeMy WebLinkAboutNo. 1818 determining to pay certain expenses incurred for local public improvements in or serving the SBCAA from the SBCAA special fundRESOLUTION NO. 1818
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION DETERMINING TO PAY CERTAIN EXPENSES
INCURRED FOR LOCAL PUBLIC IMPROVEMENTS IN OR
SERVING THE SOUTH BEND CENTRAL ALLOCATION AREA
(SOUTH BEND ALLOCATION AREA NO. IA) FROM THE
SOUTH BEND CENTRAL ALLOCATION AREA (SOUTH BEND
ALLOCATION AREA NO. IA) SPECIAL FUND
WHEREAS, the South Bend Redevelopment Commission
( "Commission "), governing body of the City of South Bend Department of
Redevelopment ( "Department "), on May 10, 1985, adopted Resolution No. 737
declaring the South Bend Central Development Area to be a blighted area within
the meaning of IC 36 -7 -14 (the "Act "); and
WHEREAS, Resolution No. 737 and the South Bend Central
Development Area Development Plan were confirmed by Resolution No. 739
adopted on June 14, 1985; and
WHEREAS, Resolution No. 737 has been amended from time to time
pursuant to the provisions of the Act; and
WHEREAS, Resolution No. 737 created the South Bend Central
Allocation Area (South Bend Allocation Area No. 1A) and the South Bend
Central Allocation Area (South Bend Allocation Area No. 1A) Special Fund
( "Allocation Fund ") for purposes ofpaying into such fund property tax proceeds
in excess of those described in Section 39(b)(1) of the Act for the purposes as
described in Section 39(b)(2) of the Act; and
WHEREAS, the Commission desires to make lease payments for local
public improvements that are in or serving the Allocation Area with property tax
proceeds deposited in the Allocation Fund pursuant to the Act; and
WHEREAS, such payments are authorizedpursuantto Section 3 9(b)(2)(F)
of the Act and are subject to the provisions of IC 6- 1.1 -18 -5; and
WHEREAS, the lease payments incurred by the Commission proposed to
be paid with property tax proceeds deposited in the Allocation Fund are
described on the attached Exhibit "A "; and
WHEREAS, the Commission also desires to pay expenses incurred by it
for local public improvements that are in or serving the Allocation Area with
property tax proceeds deposited in the Allocation Fund pursuant to the Act; and
WHEREAS, such payments are authorized pursuant to Section 39(b)(2)(J)
of the Act and are subject to the provisions of IC 6- 1.1 -18 -5; and
WHEREAS, the expenditures incurred by the Commission proposed to be
paid with property tax proceeds deposited in the Allocation Fund are described
on the attached Exhibit "A "; and
WHEREAS, the Commission desires to approve said payments from the
Allocation Fund in the total amount as described on Exhibit "A "; and
WHEREAS, the Commission has determined that such expenditure will
not endanger the interests of the holders of any obligations heretofore issued or
incurred by the Commission and payable from the Allocation Fund; and
WHEREAS, the proposed payment from the Allocation Fund as provided
for herein is not for the operating expenses of the Commission.
NOW, THEREFORE, BE IT RESOLVED, by the South Bend
Redevelopment Commission, governing body of the City of South Bend,
Department of Redevelopment, as follows:
1. The Commission hereby approves the use of funds in the Allocation
Fund in the amount of Four Million Five Hundred Thousand Dollars
($4,500,000) for purposes ofmaking the lease payments as described on Exhibit
"A" and for paying the expenditures as further described on Exhibit "A ".
2. The Secretary of the Commission is hereby authorized and directed to
take all necessary steps to obtain the approval of the expenditure of such funds
pursuant to IC 6- 1.1 -18 -5, including the publication in accordance with IC 5 -3 -1
of notice of a hearing on the appropriation of such funds to be held at 10:00
a.m., on January 05, 2001, at 1308 County -City Building, 227 West Jefferson
Boulevard, South Bend, Indiana 46601.
ADOPTED at a regular meeting of the South Bend Redevelopment
Commission held on December 15, 2000, at 1308 County -City Building, 227
West Jefferson Boulevard, South Bend, Indiana 46601.
SOUTH BEND REDEVELOPMENT COMMISSION
By:
Robert W. Hunt, President
ATTEST:
RESOLUTION NO. 1818
EXHIBIT "A"
Appropriation of tax increment in the South Bend Central Development Area
Allocation Area (South Bend Allocation Area No. IA) for making lease
payments payable for local public improvements in or serving the Allocation
Area payable pursuant to IC 36- 7- 14- 39(b)(2)(F) and to pay expenses incurred
by the Commission for local public improvements in or serving the Allocation
Area pursuant to IC 36- 7- 14- 39(b)(2)(J) in a total amount not to exceed
$4,500,000.