NOTICE OF DETERMINATION TO ISSUE BONDS OF THE NAPPANEE REDEVELOPMENT COMMISSION Taxpayers of the Nappanee Redevelopment District ("District"), the boundaries of which are coterminous with the boundaries of the City of Nappanee, Indiana ("City"), are hereby notified that the Nappanee Redevelopment Commission ("Commission") did on the 28th day of April, 2015, adopt a resolution determining to issue bonds of the Commission, acting in the name of the City, in an aggregate principal amount not to exceed $1,190,000, to pay for the costs of certain capital projects in, serving or benefiting the Nappanee Consolidated TIF District ("Area"), including incidental expenses, funding a debt service reserve and costs associated with the issuance of the bonds. The bonds are payable from incremental real property taxes generated in the Downtown Allocation Area ("Tax Increment") and, to the extent Tax Increment is not sufficient, from a special benefits tax levied on all taxable property in the District. The bonds are to bear interest at a rate not to exceed 6% per annum, and will mature semiannually on February 1 and August 1 over a period ending no later than February 1, 2040. Dated: May 7, 2015. NAPPANEE REDEVELOPMENT COMMISSION 5-12,19 hspaxlp
