HomeMy WebLinkAboutNo. 1190 determining to pay certain expenses incurred for local public improvements in or serving the SBCAA (No. 1A) from the SBCAA (No. 1A) special fundRESOLUTION NO. 1190
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION DETERMINING TO PAY CERTAIN EXPENSES
INCURRED FOR LOCAL PUBLIC IMPROVEMENTS IN OR
SERVING THE SOUTH BEND CENTRAL ALLOCATION AREA
(SOUTH BEND ALLOCATION AREA NO. 1A) FROM THE
SOUTH BEND CENTRAL ALLOCATION AREA (SOUTH BEND
ALLOCATION AREA NO. 1A) SPECIAL FUND
WHEREAS, the South Bend Redevelopment Commission
( "Commission "), governing body of the City of South Bend
Department of Redevelopment ( "Department "), on May 10, 1985,
adopted Resolution No. 737 declaring the South Bend Central
Development Area to be a blighted area within the meaning of IC
36 -7 -14 (the "Act ") ; and
WHEREAS, Resolution No. 737 and the South Bend Central
Development Area Plan were confirmed by Resolution No. 739
adopted on June 14, 1985; and
WHEREAS, Resolution No. 737 has been amended from time to time
pursuant to the provisions of the Act; and
WHEREAS, Resolution No. 737 created the South Bend Central
Allocation Area (South Bend Allocation Area No. 1A) and the South
Bend Central Allocation Area (South Bend Allocation Area No. 1A)
Special Fund ( "Allocation Fund ") for purposes of paying into such
fund property tax proceeds in excess of those described in
Section 39(b)(1) of the Act for the purposes as described in
Section 39(b)(2) of the Act; and
WHEREAS, the Commission desires to pay expenses incurred by it
for local public improvements that are in or serving the
Allocation Area with property tax proceeds deposited in the
Allocation Fund pursuant to the Act; and
WHEREAS, such payments are authorized pursuant to Section
39(b)(2)(J) of the Act and are subject to the provisions of IC
6- 1.1 -18 -5; and
WHEREAS, the expenditures incurred by the Commission proposed
to be paid with property tax proceeds deposited in the Allocation
Fund are described on the attached Exhibit "A "; and
WHEREAS, the Commission desires to approve said payments from
the Allocation Fund in the total amount as described on Exhibit
"A "; and
WHEREAS, the Commission has determined that such expenditure
will not endanger the interests of the holders of any obligations
heretofore issued or incurred by the Commission and payable from
the Allocation Fund; and
WHEREAS, the proposed payment from the Allocation Fund as
provided for herein is not for the operating expenses of the
Commission.
NOW, THEREFORE, BE IT RESOLVED, by the South Bend
Redevelopment Commission, governing body of the City of South
Bend, Department of Redevelopment, as follows:
1. The Commission hereby approves the use of funds in the
Allocation Fund in the amount of Four Hundred Thirty Thousand
Dollars ($430,000.00) for purposes of paying the expenditures as
described on Exhibit "A ". The Secretary of the Commission is
hereby authorized and directed to take all necessary steps to
obtain the approval of the expenditure of such funds pursuant to
IC 6- 1.1 -18 -5, including the publication in accordance with IC
5 -3 -1 of notice of a hearing on the appropriation of such funds
to be held at 10:00 a.m., on September 17, 1993 at 1308
County -City Building, 227 West Jefferson Boulevard, South Bend,
Indiana 46601.
ADOPTED at a regular meeting of the South Bend Redevelopment
Commission held on August 20, 1993, at 1308 County -City Building,
227 West Jefferson Boulevard, South Bend, Indiana 46601.
SOUTH BEND REDEVELOPMENT COMMISSION
By: �Cc� A
Paula N. Auburn, President
ATTEST:
Theo F. Sharp, Secre ary
RES1190
EXHIBIT "A"
Description of Expenditure
For local public improvements in or serving the South Bend
Central Allocation Area (South Bend Allocation Area No. 1A) as
may be authorized by IC 36- 7- 14- 39(b)(2)(J) and IC
36- 7- 14- 25.1(a) in a total amount not to exceed $430,000.00.