HomeMy WebLinkAboutNo. 1264 supplemental appropriation resolution of the COSBRCRESOLUTION NO. 1264
SUPPLEMENTAL APPROPRIATION RESOLUTION
OF THE CITY OF SOUTH BEND REDEVELOPMENT COMMISSION
WHEREAS, the South Bend Redevelopment Commission (the "Commission "), has
heretofore on June 17, 1994, adopted Resolution No. 1262, 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 Airport Economic
Development Area No. 1 ( "Allocation Area No. 1") (the "Allocation Area ") and to pay
expenses incurred by the Commission for local public improvements that are in or serving
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)(F) and 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 Eight Hundred Fifty -Nine Thousand, Six
Hundred Seventy -Six Dollars ($859,676.00); and
WHEREAS, the Commission did not include said funds in any regular budget for the
year 1994; 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 1, 1994, 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 Eight Hundred Fifty -Nine
Thousand, Six Hundred Seventy -Six Dollars ($859,676.00) be, and they are hereby,
appropriated from the Allocation Fund for the purpose of making lease rental payments
during 1994 and for purposes 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 July 1, 1994, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend,
Indiana 46601.
SOUTH BEND REDEVELOPMENT COMMISSION
By: /�-
Paula N. Auburn, President
ATTEST:
ML:Res1264
RESOLUTION NO. 1264
EX�IIBIT "A"
Appropriation of tax increment in the Airport Economic Development Area Allocation Area
No. 1 ( "Allocation Area No. 1) 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 Airport Economic Development Area
Allocation Area No. 1 ( "Allocation Area No. V) as may be authorized by IC36 -7 -14-
39(b)(2)(J) and IC36- 7- 14- 25.1(a) in a total amount not to exceed $859,676.00.
ML:Resl264