Pursuant to I.C. 36-7-14-1 et seq. (i.e., the “state act”), all of the territory within the corporate boundaries of the city will be a taxing district to be known as the Redevelopment District of the city for the purpose of levying and collecting special benefit taxes for redevelopment purposes as provided in the state act. The Common Council finds and determines that all of the taxable property within this special taxing district will be considered to be benefitted by the redevelopment projects and economic development projects carried out under the state act to the extent of the special taxes levied under the state act.
('79 Code, § 2-177) (Ord. 9-1990, passed 4-10-90)