HomeMy WebLinkAboutNo. 1523 supplemental appropriation resolution of the COSBRC (SBCDA)RESOLUTION NO. 1523
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 July 3, 1997, adopted Resolution No. 1519, 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 ") 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
WHEREAS, the amount of funds in the Allocation Fund proposed to be expended for said
expenses incurred by the Commission is Two Million, One Hundred Sixty-Five Thousand, One
Hundred Twenty-Eight Dollars ($2,165,128.00); and
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r WHEREAS, the Commission did not include 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
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 July 18, 1997, 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, One Hundred
Sixty -Five Thousand, One Hundred Twenty-Eight Dollars ($2,165,128.00) 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 aie
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
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
July 18, 1997, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiam
46601.
SOUTH REDEV LOPMENT COMMISSION
By:
Robert W. Hunt, President
ATTEST:
"o. � Ll�
Paula N. Auburn, Secretary
vb:Res1523
RESOLUTION NO. 1523
EXHIBIT "A"
Description of Expenditure
Appropriation of tax increment in the South Bend Central Allocation Area (South Bend Allocation
Area No. 1A) 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. 1 ( "Allocation Area
No. 1 ") as may be authorized by IC 36- 7- 14- 39(b)(2)(J) and
IC 36- 7- 14- 25.l(a) in a total amount not to exceed $2,165,128.00.