HomeMy WebLinkAboutNo. 1661 supplemental appropriation resolution of the COSBRC determining to make lease payments for local public improvements in or serving the SBCAA (No. 1A) from the SBCAA (No. 1A) special fundRESOLUTION NO. 1661
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 8, 1999, adopted Resolution No. 1657, 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. 1A) 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 Two Million Four Hundred Twelve Thousand Four
Hundred Fifty -Nine Dollars ($2,412,459.00); and
WHEREAS, the Commission did not include said funds in any regular budget for the year
1999; 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 January 22, 1999, 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 Two Million Four Hundred Twelve
Thousand Four Hundred Fifty -Nine Dollars ($2,412,459.00)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 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
ID 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 special meeting of the South Bend Redevelopment Commission held on
January 22, 1999, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend,
Indiana 46601.
ATTEST:
Eugg6a S. Schwartz, Sec"-_1 .
vb:Res1661
C�
SO D RE/DDE /VE O ENT COMMISSION
By
Robert W. Hunt, President
RESOLUTION NO. 1661
EXHIBIT "A"
Description of Expenditure
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 improvementsin 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. IA ( "Allocation Area
No. IA ") as may be authorizedby IC 36- 7- 14- 39(b)(2)(J) and IC 36- 7- 14- 25.1(a)in atotal amount
not to exceed $2,412,459.00.
H
L-01