HomeMy Public PortalAbout006-2022 - Additional Appropriation Resolution RICHMOND REDEVELOPMENT COMMISSION
ADDITIONAL APPROPRIATION RESOLUTION
RESOLUTION NO. 6-2022
WHEREAS, the Richmond Redevelopment Commission ("Commission") has established
the Richmond Redevelopment Area ("Area") in order to undertake certain local public
improvements, including the acquisition of certain real estate for the purpose of redevelopment
in, serving or benefiting the Area ("Project"), located in the Richmond Redevelopment District
("District"), funding a debt service reserve, if necessary, and incidental expenses incurred in
connection with the Project, including premiums for municipal bond insurance and/or a debt
service reserve surety, if necessary;
WHEREAS, the Commission has adopted a bond resolution ("Bond Resolution")
approving the issuance of bonds payable from Tax Increment, on a parity with the Outstanding
Bonds (each as defined in the Bond Resolution) ("Bonds"), in an amount not to exceed
$3,250,000 in order to procure funds to be applied on the costs of the Project, funding a debt
service reserve for the Bonds, if necessary, and costs associated with issuance of the Bonds,
including premiums for municipal bond insurance and/or a debt service reserve surety, if _
necessary("Costs of the Project"); and
WHEREAS, the Commission has published notice in accordance with IC 5-3-1 and IC 6-
1.1-18-5, and on July 12, 2022 held a public hearing regarding the appropriation of the proceeds
of the Bonds;
NOW, THEREFORE, BE IT RESOLVED BY THE RICHMOND REDEVELOPMENT
COMMISSION AS FOLLOWS:
1. (a) An appropriation in an amount not to exceed Three Million Two Hundred
Fifty Thousand Dollars ($3,250,000), and interest earned thereon, is hereby made to be applied
to the Costs of the Project, 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.
(a) 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.
Resolution 6-2022
Adopted at a meeting of the Commission held on July 12, 2022, in Richmond, Indiana.
RICHMOND REDEVELOPMENT
COMMI ION
P ent
ATTEST:
Secretary
-2 - Resolution 6-2022