HomeMy WebLinkAboutNo. 1162 supplemental appropriation resolution of the COSB Redevelopment CommissionRESOLUTION NO. 1162
SUPPLEMENTAL APPROPRIATION RESOLUTION
OF THE CITY OF SOUTH BEND REDEVELOPMENT COMMISSION
WHEREAS, the South Bend Redevelopment Commission (the
"Commission "), has heretofore on June 4, 1993, adopted Resolution No.
1160, 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. 111) ( 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
WHEREAS, the amount of funds in the Allocation Fund proposed to
be expended for said lease payments by the Commission is Three Hundred
Ninety -eight Thousand Dollars ($398,000.00); and
WHEREAS, the Commission did not include said funds in any regular
budget for the year 1993; 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 June 18, 1993, 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 Three Hundred
Ninety -eight Thousand Dollars ($398,000.00) be, and they are hereby,
appropriated by the Commission for the purpose of providing funds to
be applied to make lease payments 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.
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ADOPTED at a regular meeting of the South Bend Redevelopment
Commission held on June 18, 1993, at 1308 County -City Building, 227
West Jefferson Boulevard, South Bend, Indiana 46601.
ATTEST:
Theo F. Sh rp, Secre ry
RES:Res1162
F1
SOUTH BMD REDEVELOP NT COMMISSION
By: C.L
Paula N. Auburn, President
RESOLUTION NO. 1162
EXHIBIT "A"
Appropriation of tax increment in the Airport Economic Development
Area Allocation Area No. 1 ( "Allocation Area No. 111) for making lease
payments for local public improvement in or serving the allocation
Area payable pursuant to IC36- 7- 14- 39(b)(2)(F) in a total amount not
to exceed $398,000.00.