HomeMy WebLinkAboutNo. 1941 supplemental appropriation resolution of the COSBRC (SBCDA)14
RESOLUTION NO. 1941
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 January 17, 2003 adopted Resolution No. 1940, 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. 1A) (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.
IA) 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 Two Hundred Ninety Seven Thousand Two
Hundred Sixty Eight Dollars ($5,297,268); and
WHEREAS, the Commission did not include said funds in any regular budget for the year
2003; 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 7, 2003, 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 Two Hundred Ninety
Seven Thousand Two Hundred Sixty Eight Dollars ($5,297,268) 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.
L4 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 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 7, 2003 at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend,
Indiana 46601.
ATTEST:
c
C41
SO .TH BEND REDEVELOPMENT COMMISSION
By:
Marcia Jones, Vy resident
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Description of Expenditure
RESOLUTION NO. 1941
EXHIBIT "A"
Appropriation of tax increment in the South Bend Central 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 IC36- 7- 14- 39(b)(2)(F) and for local public improvements in or
serving the South Bend Central Development Area Allocation Area No. I ( "Allocation Area No.
lA ") 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 Two Hundred Ninety Seven Thousand Two Hundred Sixty Eight Dollars
($5,297,268)
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