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law, to authorize approximately Three Million Five Hundred Thou- <br />sand and no /100 Dollars ($3,500,000.00). of its revenue bonds, <br />which bonds will not be general obligations of the City but will <br />be payable solely from the limited sources authorized and permit- <br />ted 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 />ti% <br />Member of the Common Council <br />Cl <br />Irene Gammon <br />CITY CLERK, SOUTH BEND,IND. <br />PRESENTED O " <br />NOT APPROVED <br />ADOPTED 9 - /s "-� <br />