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"In addition to the Payments in Lieu of Taxes and in further consideration for the public
<br />services and facilities furnished and to be furnished in respect to any Project for which
<br />no annual contributions contract had been entered into prior to August 2, 1954 between the
<br />Local Authority and the PHA;
<br />(1) After payment in full of all obligations of the Local Authority in connection
<br />with such Project for which any annual contributions are pledged and until the total to such
<br />Project has been repaid, (a) all receipts in connection with such Project in excess of ex-
<br />penditures necessary for the management, operation, maintenance, or financing and for
<br />reasonable reserves therefor, shall be paid annually to the PHA and to the Municipality on
<br />behalf of the local public bodies which have contributed to such Project in the form of tax
<br />exemption or otherwise, in proportion to the aggregate contribution which the PHA -and such
<br />local public bodies have made to such Project, and (b) no debt in respect to such Project
<br />except for necessary expenditures for such Project shall -be. incurred by the Local Authority;
<br />(2) If, at any time, such Project or any part thereof is sold, such sale shall be to
<br />the highest bidder after advertising, or at fair market value as approved by the PHA, and
<br />the proceeds, of such sale together with any reserves, after application to any outstanding
<br />debt of the Local Authority in respect to such Project, shall be paid to the PHA and local
<br />public bodies as provided in clause 1 (a) of this Section 10; Provided, That the amounts to
<br />be paid to the PHA and the local public bodies shall not exceed their respective total con-
<br />tributions to such Project;
<br />(3) The Municipality shall distribute the payments made to it pursuant to clauses (1) and
<br />(2) of this section 10 among the local public bodies(including the Municipality) in proportion
<br />to their respective aggregate contributions to such project."
<br />FURTHER RESOLVED that the proper officers of the City of South Bend, Indiana, are hereby authorized
<br />and instructed to execute the Agreement, a copy of which is attached hereto.
<br />This Resolution shall be in full force and effect from and after its passage. Passed by the Common Council)
<br />this 8th day of June, 1959.
<br />/s /Stanley C. Korpal
<br />President of the Common Council
<br />ATTEST:
<br />/s/ Freda Noble
<br />Freda Noble, City Clerk
<br />Presented by me to the Mayor of the City of South Bend, Indiana, on the 9th day of June, 1959, at the hour of
<br />11 :35 o'clock A.M.
<br />/s/ Freda G. Noble
<br />Freda Noble, City Clerk
<br />This resolution was approved and signed by me on the 9th day of June, 1959, at the hour of 11 :40 A.M.
<br />/s/ Edward F. Voorde
<br />Edward F. Voorde, Mayor of the
<br />City of South Bend, Indiana
<br />AMENDMENT TO COOPERATION AGREEMENT
<br />THIS AMENDMENT entered into as of the 9th day of June, 1959 by and between the City of South Bend, Indiana,l,
<br />(hereinafter called the "Municipality ") and The Housing Authority of the City of South Bend, Indiana, (hereinafter
<br />called the "Local Authority),
<br />WITNESSETH:
<br />WHEREAS, the parties hereto have entered into a Cooperation Agreement dated September 11, 1956 and desire
<br />to amend said Agreement to give effect to the provisions of Sec. 10(j) of the United States Housing Act of 1937,
<br />as added by the Housing Act of 1954.
<br />NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth the parties agree as
<br />follows:
<br />The Cooperation Agreement dated September 11, 1956 entered into between the parties hereto is hereby
<br />amended by adding Section 10 to read as follows:
<br />"10. In addition to the Payments in Lieu of Taxes and in further consideration for the
<br />public services and facilities furnished and to be furnished in respect to any Project for
<br />which no annual contributions contract had been entered into prior to August 2, 1954 between
<br />the Local Authority and the PHA:
<br />(1) After payment in full of all obligations of the Local Authority in connection with such Pro-
<br />ject for which any annual contributions are pledged and until the total amount of annual contribu-
<br />tions paid by the PHA in respect to such Project in excess of .expenditures necessary for the
<br />management, operation, maintenance, or financing, and for reasonable reserves therefor, shall be
<br />paid annually to the PHA and to the Municipality on behalf of the local public bodies which have
<br />contributed to such Project in the form of tax exemption or otherwise, in proportion to the
<br />aggregate contribution which the PHA and such local public bodies have made to such Project,
<br />and (b) no debt in respect to such Project, except for necessary expenditures for such Project,
<br />shall be incurred by the Local Authority;
<br />(2) If, at any time, such Project or any part thereof is sold, such sale shall be to the
<br />highest responsible bidder after advertising, or at fair market value as approved by the PHA,
<br />and the proceeds, of such sale together with any reserves, after application to any outstanding
<br />debt of the Local Authority in respect to such Project, shall be paid to the FHA and local
<br />public bodies as provided in clause 1(a) of this Section 10; Provided, That the amounts to be
<br />paid to the PHA and the local public bodies shall not exceed their respective total contribution
<br />to such Project;
<br />(3) The Municipality shall distribute the payments made to it pursuant to clauses (1) and (2)
<br />of this section 10 among the local public bodies (including the Municipality) in proportion to
<br />their respective aggregate contributions to such Project."
<br />IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed in their respective names
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