HomeMy WebLinkAboutNo. 1565 determining its intent to pay certain expenses incurred for local public improvements in or serving the SBCAA (No. 1A) from the SBCAA (No. 1A) special fundRESOLUTION NO. 1565
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION DETERMINING ITS INTENT TO PAY CERTAIN EXPENSES
INCURRED FOR LOCAL PUBLIC IMPROVEMENTS IN OR
SERVING THE SOUTH BEND CENTRAL ALLOCATION AREA
(SOUTH BEND ALLOCATION AREA NO. 1A) FROM THE
SOUTH BEND CENTRAL ALLOCATION AREA (SOUTH BEND
ALLOCATION AREA NO. 1A) SPECIAL FUND
WHEREAS, the South Bend RedevelopmentCommission ( "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 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 of paying irto 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 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 intends to approve the use of funds in the Allocation Fund in the
amount of Four Hundred Fifty Thousand Dollars ($450,000.00) for purposes of paying the
expenditures as 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 8:00 a.m., on January 23, 1998 at 1308 County-City Building, 227 West
Jefferson Boulevard, South Bend, Indiana 46601.
ADOPTED at a special meeting of the South Bend Redevelopment Commission held on
January 2, 1998, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend,
Indiana 46601.
ATTEST:
Paula N. Auburn, Secretary
vb:Res1565
SOUTH BEN DEVELOPMENT COMMISSION
By: lz�61�
Robert W. Hunt, President
RESOLUTION NO. 1565
EXHIBIT "A"
Appropriation of tax increment in the South Bend Central Development Aera Allocation Area
(South Bend Allocation Area No. IA) to pay expenses inucurred by the Commission for local
public improvements in or serving the Allocation Area payable pursuant to IC 36- 7- 14- 39(b)(2)(J)
in a total amount not to exceed $450,000.00.
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