HomeMy WebLinkAboutNo. 1540 supplemental appropriation resolution of the COSB redevelopment commissionRESOLUTION NO. 1540
SUPPLEMENTAL APPROPRIATION RESOLUTION
OF THE CITY OF SOUTH BEND REDEVELOPMENT COMMISSION
WHEREAS, the South Bend Redevelopment Commission (the "Commission "), has heretofore on
September 19, 1997, adopted Resolution No. 1539, the provisions of which Resolution are hereby
included herein by this reference thereto, determining to pay expenses incurred by the Commission for
local public improvements that are in or serving the South Bend Central Development Area from Fund
433, the Redevelopment General Fund; and
WHEREAS, the amount of funds in the Redevelopment General Fund proposed to be expended
for said expenses incurred by the Commission is One Hundred Six Thousand Four Hundred Dollars
($106,400.00); and
WHEREAS, the Commission did not include the appropriation of said funds in any regular budget
for the year 1997; 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 Redevelopment
General 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 October 17, 1997, at 10:00 a.m., E.S.T., at Room
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 Redevelopment General Fund in the amount of One Hundred Six Thousand
Four Hundred Dollars ($106,400.00) be, and they are hereby, appropriated by the Commission for the
purpose of providing funds to be applied to pay the expenses incurred by the Commission for local public
improvements that are in or serving the South Bend Central Development Area and to pay debt service on
outstanding Studebaker Corridor bonds 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 may be necessary
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 October
17, 1997, at Room 1308, County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana
46601.
SOU REDEVELOP NT COMMISSION
By:
Robert W. Hunt, President
ATT, T:: 1
Paula N. Auburn, Secretary
RES:Res1540
Resolution No. 1540
EXHIBIT "A"
Description of Expenditure
For local public improvements in or serving the South Bend Central Development Area in a total amount
not to exceed $80,851.00 and for purposes of paying debt service on outstanding bonds in the amount of
$25,549.00 which will be appropriated into Fund 310.