HomeMy WebLinkAboutNo. 0927 amending its resolution No. 915 adopted February 16, 1990RESOLUTION NO. 927
RESOLUTION OF THE SOUTH BEND REDEVELOPMENT
COMMISSION AMENDING ITS RESOLUTION NO. 915
ADOPTED FEBRUARY 16, 1990
WHEREAS, the South Bend Redevelopment Commission (the
"Commission ") previously adopted, on February 16, 1990, Resolution
No. 915, entitled "Resolution of the South Bend Redevelopment
Commission Establishing Certain Funds and Accounts in Connection
with the Lease Dated as of November 1, 1989, Between the South Bend
Redevelopment Commission and the South Bend Redevelopment Authority
Relating to the South Bend Central Development Area Public
Improvement Project and Other Related Matters" (the "Pledge
Resolution "); and
WHEREAS, the Commission now finds it necessary to make
a certain technical amendment to the Pledge Resolution as a result
of the change in the lease payment schedule made in the Addendum
to Lease dated April 6, 1990, between the Commission and the South
Bend Redevelopment Authority;
NOW, THEREFORE, BE IT RESOLVED, by this South Bend
Redevelopment Commission as follows:
SECTION 1. The first sentence of Section 2 of the Pledge
Resolution is hereby amended to read as follows:
Section 2. The Commission shall levy in each
calendar year beginning in the second year prior to the
first calendar year in which the Commission is required
to pay lease rentals pursuant to the Lease, a special tax
upon all of the taxable property in the City of South
Bend Redevelopment District in a total amount sufficient,
together with all other funds in the South Bend Central
Development Area Public Improvement Project Principal and
Interest Account deposited into such account from any
other sources (other than such special taxes) during the
previous 12 calendar months prior to August 1 of such
calendar year, to pay all lease rental payments payable
in the 12 -month period beginning on July 1 of the
following calendar year.
SECTION 2. All other terms and conditions of the Pledge
Resolution shall remain in full force and effect.
SECTION 3. This Resolution shall be in full force and
effect after its adoption by the Commission.
ADOPTED at a meeting of the South Bend Redevelopment
Commission held on April 20, 1990, at the office of the Commission,
1200 County -City Building, 227 West Jefferson Boulevard, South
Bend, Indiana 46601.
ATTEST:
Roman J. Pias cki, Secretary
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SOUTH BEND REDEVELOPMENT
COMMISSION
By:
Jay Nimt , Presiden