HomeMy WebLinkAboutNo. 1355 supplemental appropriation resolution of the COSBRC SBCDARESOLUTION NO. 1355
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 June 16, 1995, adopted Resolution No. 1351, 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. 1A) 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 One Million, Six Hundred Seventy Thousand, Seven
Hundred Thirty -five Dollars and Eighty Cents ($1,670,735.80); and
WHEREAS, the Commission did not include said funds in any regular budget for the year
1995; 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 7, 1995, 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 One Million, Six Hundred Seventy
r Thousand, Seven Hundred Thirty -five Dollars and Eighty Cents ($1,670,735.80) be, and they
are hereby, appropriated by the Commission for the purpose of providing funds to make lease
rental payments 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
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 'Cothmission held on
July 7, 1995, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana
46601.
SOUTH BEND REDEVfWPMENT COMMISSION
By:
Philip J. F en , President
ATTEST:
Robert W. Hunt, Secretary
RES:Res1355
RESOLUTION NO. 1355
EXI -MIT "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 improvements in or serving
the Allocation Ara payable pursuant to IC36- 7- 14- 39(b)(2)(F) in a total amount not to exceed
$1,670,735.80.