HomeMy WebLinkAbout2013-R-13 JEFFERSONVILLE REDEVELOPMENT COMMISSION
ADDITIONAL APPROPRIATION RESOLUTION
RESOLUTION NO. i, .,0t3- -x3
WHEREAS, the City of Jeffersonville ( "City ") Redevelopment Commission
( "Commission ") has established the Inner City Road Economic Development Area ( "Inner City
Road Area ") and established the Falls Landing Riverside Redevelopment Area ( "Falls Landing
Area" and collectively with Inner City Road Area, "Areas ") in order to undertake certain local
public improvements, including certain economic development and redevelopment projects
which are in, serving or benefitting the Areas, together with necessary appurtenances, related
improvements and equipment (collectively, "Projects "), located in the Jeffersonville
Redevelopment District ( "District ") and incidental expenses incurred in connection with the
Projects; and
WHEREAS, the Commission has adopted bond resolutions approving the issuance of
bonds ( "Bond Resolutions "), payable from incremental real property taxes generated in the Areas
( "Tax Increment ") in an amount not to exceed $11,000,000 ( "Bonds "), in order to procure funds
to be applied on the costs of the Projects and the funding a debt service reserve for the Bonds and
costs associated with issuance of the Bonds ( "Costs of the Projects "); and
WHEREAS, the Commission has published notice in accordance with IC 5 -3 -1 and IC 6-
1.1 -18 -5, and on April 24, 2013 held a public hearing regarding the appropriation of the proceeds
of the Bonds;
NOW, THEREFORE, BE IT RESOLVED BY THE JEFFERSONVILLE
REDEVELOPMENT COMMISSION AS FOLLOWS:
1. (a) An appropriation in an amount not to exceed Eleven Million Dollars
($11,000,000), and interest earned thereon, is hereby made to be applied to the Costs of the
Projects; and the funds to meet this appropriation will be provided out of the proceeds of the
Bonds. This appropriation is in addition to all other appropriations provided for in the existing
budget and tax levy of the District for the current year.
(b) The fiscal officer of the Commission is hereby authorized and directed to provide
information to the Department of Local Government Finance concerning this appropriation.
2. This resolution shall be in full force and effect immediately upon its adoption.
I/3151188.2
Adopted at a meeting of the Commission held on April 24, 2013, in Jeffersonville,
Indiana.
JEFFERSONVILLE REDEVELOPMENT
COMMISSION
President
ATTEST:
a
Secretary
_2_
I13151188.2