HomeMy WebLinkAboutNo. 0910 determining to pay certain expenses incurred for local public improvements in or serving the SBCAA (No. 1A)T
RESOLUTION NO. 910
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)
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 737 and the South Bend Central Development
Area Plan were confirmed by Resolution No. 739 adopted on June 14,
1985; and
WHEREAS, Resolution 737 has been amended from time to time
pursuant to the provisions of the Act; and
WHEREAS, Resolution 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
-1-
IM
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;
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, with the advice of its financial
advisor, 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:
-2-
j,. , . • .
1. The Commission hereby approves the use of funds in the
Allocation Fund in the amount of One Hundred Thousand Dollars
($100,000) 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 February
23, 1990 at the office of the Commission, 1200 County -City Building,
227 West Jefferson Boulevard, South Bend, Indiana 46601.
ADOPTED at a regular meeting of the South Bend Redevelopment
Commission held on February 9, 1990, at the office of the Commission,
1200 County -City Building, 227 West Jefferson Boulevard, South Bend,
Indiana 46601.
ATTEST:
Roman J. Pia gcki, Secretary
2 -5 -90
SOUTH BEND REDEVELOPMENT COMMISSION
1
By:
Paula N. Auburn, Vice President
-3-
.> . , 4
Description of Expenditure
Public Improvements
Consultants for acquisition
Property Management
EXHIBIT "A"
Amount
$30,000
& redevelopment activities 45,000
25,000
TOTAL $100,000