HomeMy WebLinkAboutNo. 0877B appropriating money from the SBCAA (No. 1A) special fund to the parking garage principal and interest account of the redevelopment district bond fundRESOLUTION NO. 877B
SOUTH BEND REDEVELOPMENT COMMISSION
A RESOLUTION APPROPRIATING MONEY FROM THE SOUTH BEND
CENTRAL ALLOCATION AREA (SOUTH BEND ALLOCATION AREA NO. 1A)
SPECIAL FUND TO THE PARKING GARAGE PRINCIPAL AND INTEREST
ACCOUNT OF THE REDEVELOPMENT DISTRICT BOND FUND
WHEREAS, the South Bend Redevelopment Commission (the
"Commission ") entered into an agreement on June 1, 1988 (the
"Lease "), to lease a parking garage facility from the South Bend
Redevelopment Authority (the "Authority "), which Lease requires
semiannual lease rental payments by the Commission to the
Authority;
WHEREAS, under Commission Resolution No. 847, adopted
June 17, 1988, the Commission must levy a special tax payable in
1990 upon all the taxable property in the Redevelopment District
if the balance in the Parking Garage Principal and Interest
Account of the Redevelopment District Bond Fund as of August 1,
1989 (other than funds necessary to make the lease rental payment
due in December, 1989), is insufficient to pay all lease rental
payments under the Lease in the 12 -month period beginning
January 1, 1990;
WHEREAS, in order to eliminate the need to impose such a
special tax, the Commission proposes to appropriate the amount of
Four Hundred Sixty -three Thousand Dollars ($ 463,000 )
from the South Bend Central Allocation Area (South Bend
Allocation Area No. lA) Special Fund (the "Allocation Fund ") to
the Parking Garage Principal and Interest Account of the
Redevelopment District Bond Fund;
WHEREAS, the use of money in the Allocation Fund for the
purpose of making payments on the Lease is permitted under
IC 36-7-14-39 (b) (2) (F) ;
WHEREAS, the amount proposed to be appropriated from the
Allocation Fund has not been included in any regular budget;
WHEREAS, the Secretary of this Commission has caused
notice of a hearing on said appropriation to be published as
required by law;
WHEREAS, such public hearing was held on July 14, 1989,
at 10:00 a.m. (local time) in the office of the Commission
concerning said appropriation at which all taxpayers and
interested persons had an opportunity to appear and express their
views as to such additional appropriation; and
WHEREAS, an extraordinary emergency and necessity exist
for the making of the additional appropriation set out herein,
and no other money is available to the Commission for the purpose
for which the additional appropriation is proposed;
NOW, THEREFORE, BE IT RESOLVED, by the South Bend
Redevelopment Commission as follows:
Section 1. It is hereby determined that an emergency
xis s r irin an addit� onal appropriation in the amount of
our undre e�q ixty'?hree Thousan Dollars ($ 463,000 )
and said amount shall be and the same hereby is appropriated from
the Allocation Fund to the Parking Garage Principal and Interest
Account of the Redevelopment District Bond Fund for the purpose
of making lease rental payments due during 1990 on the Lease.
Section 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 lease rental payments as
described in Section 1 have been made.
Section 3. The President and the Secretary of the
Commission shall 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.
Section 4. All actions heretofore taken by any officer
of the Commission relating to said appropriation, are hereby
approved, ratified and confirmed in all respects.
Adopted at the regular meeting of the South Bend
Redevelopment Commission, held on July 14, 1989, at 1200 County -
City Building, 227 West Jefferson Boulevard, South Bend, Indiana.
SOUTH BEND REDEVELOPMENT COMMISSION
Jay Ni tz, resident
EST:
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Roman Piasecki, Secre ary
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