HomeMy WebLinkAboutNo. 1865 supplemental appropriation resolution of the COSB redevelopment commission (AEDA)w
RESOLUTION NO. 1865
SUPPLEMENTAL APPROPRIATION RESOLUTION
OF THE CITY OF SOUTH BEND REDEVELOPMENT COMMISSION
(AIRPORT ECONOMIC DEVELOPMENT AREA)
WHEREAS, the South Bend Redevelopment Commission (the "Commission "), has
heretofore on January 18, 2002 adopted Resolution No. 1861, 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 Airport Economic Development Area No. 1
( "Allocation Area No. 1 ") (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 Airport Economic Development Allocation
Area No. 1 Special Fund (the "Allocation Fund ") pursuant to IC 36- 7- 14 -39, such payment being
authorized by 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 Seven Million Dollars ($7,000,000.00); and
WHEREAS, the Commission did not include said funds in any regular budget for the year
2002; 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 1, 2002 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 Seven Million Dollars
($7,000,000.00) be, and they are hereby, appropriated from the Allocation Fund for the purpose
of paying the expenditures as described in Exhibit "A ".
2. Such appropriation shall be in addition to all appropriations provided for in the
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
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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 Bend Redevelopment Commission held on
February 1, 2002, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend,
Indiana 46601.
ATTEST:
�A U
SOUTH BEND REDEVE PMENT COMMISSION
By:
Marcia Jones, Vice President
7
RESOLUTION NO. 1865
EXHIBIT "A"
Appropriation of tax increment in the Airport Economic Development Area Allocation Area No.
1 ( "Allocation Area No. 1) 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 paying
expenditures incurred by the Commission for local public improvements in or serving the Airport
Economic Development Area Allocation Area No. 1 ( "Allocation Area No. 1 ") as may be
authorized by IC36- 7- 14- 39(b)(2)(J) in a total amount not to exceed $7,000,000.