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law, to authorize approximately Two Hundred Fifty Thousand Dol- <br />lars ($250000..00) of its revenue bonds, which bonds will not be <br />general obligations of the City but will be payable solely from <br />the limited sources authorized and permitted by the Act.. <br />2. The proposed financing will be of benefit to the <br />economic welfare of the City and will comply with the purposes <br />and provisions of the Act. <br />3. The Partnership may proceed with acquisition and <br />construction of the economic development facilities in reliance <br />upon this resolution. <br />4. That the liability and obligation of the South <br />Bend Economic Development Commission, the South Bend Common <br />Council and the City of South Bend, Indiana, shall be limited <br />solely to the good faith efforts to consummate such proceedings <br />and issue such Bonds, and the South Bend Economic Development <br />Commission, and the City of South Bend, Indiana, their officers <br />or agents, shall not incur any liability if for any reason the <br />proposed issuance of such Bonds is not consummated. <br />This Inducement Resolution shall be in full force and <br />effect from and after its adoption by the Common Council and ap- <br />proval by the Mayor. <br />Member of the Common Council <br />FIT 97.1 <br />-r� <br />Irene Ganirron <br />CITY CLERX,SOUTH BEND,IND" <br />PRESENTED 9' /s <br />NOT APPROVED <br />ADOPTED <br />