HomeMy WebLinkAboutNo. 1491 supplemental appropriation resolution of the COSBRC (AEDA)RESOLUTION NO. 1491
SUPPLEMENTAL APPROPRIATION RESOLUTION
OF THE CITY OF SOUTH BEND REDEVELOPMENT COMMISSION
WHEREAS, the South Bend Redevelopment Commission (the "Commission "), has
heretofore on January 17, 1997, adopted Resolution No. 1490, 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 Airport
Economic Development Area No. 1 ( "Allocation Area No. I") (the "Allocation Area ") with
property tax proceeds that have been paid into the Airport Economic Development Allocation
Area No. 1 Special Fund (the "Allocation Fund ") pursuant to IC 36- 7- 14 -39, such payment
being authorized by 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 One Million Dollars ($1,000,000.00); and
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
4V 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, 1997, at 10:00 a. in., 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 One Million Dollars
($1,000,000.00) be, and they are hereby, appropriated from the Allocation Fund for the
purpose of paying the expenditures as described in Exhibit "A".
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 Februay 7, 1997, at 1308 County -City Building, 227 West Jefferson Boulevard, South
Bend, Indiana 46601.
ATTEST:
Paula N. Auburn, Secretary
vb:Res1491
�w
SOUTH EVELOPMENT COMMISSION
By:
Robert W. Hunt, President
RESOLUTION NO. 1491
F,)=IT "A"
Appropriation of tax increment in the Airport Economic Development Area Allocation Area
No. 1 ( "Allocation Area No. 1) for paying expenditures incurred by the Commission for local
public improvements in or serving the Airport Economic Development Area Allocation Area
No. 1 ( "Allocation Area No. 1") as may be authorized by IC36- 7- 14- 39(b)(2)(J) in a total
amount not to exceed $1, 000, 000.00.
vb:Res1491
`.
C]