Inducement Resolution of South Bend Common Council relating to Masterbilt, Incorporated Machinery Aquisition Project

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page two Bonds to be issued by the City of South Bend, Indiana in an amount of Ninety Thousand Dollars ($90,000.00). WHEREAS, to induce Masterbilt, Incorporated to become the principal user of such economic development facilities, the South Bend Common Council desired to adopt this resolution; and WHEREAS, it is contemplated from the application relating to such Masterbilt, Incorporated Project submitted to the South Bend Economic Development Commission dated .March 28, 1980, and from other investigation and information received by the South Bend Common Council that such economic development facilities will increase job opportunities and diversification in St. Joseph County, Indiana, resulting in a benefit to the welfare of the City of South Bend, Indiana and St. Joseph County, Indiana. NOW, THEREFORE, BE IT RESOLVED, that the South Bend Common Council approve the application of Masterbilt, Incorporated relating to the acquisition and installation of additional machinery and equipment at its place of operation in South Bend, Indiana, wherein Industrial Revenue Bonds would be issued by the City of South Bend, Indiana, concerning such Masterbilt, Incorporated Project for an amount not exceeding Ninety Thousand Dollars ($90,000.00). IT IS FURTHER RESOLVED, that to induce the continuation of the operation of such economic development facilities in the City of South Bend, Indiana, the South Bend Common Council shall proceed to cooperate with and take such action as may be necessary in the drafting of documents or perform- ance of such other acts as will facilitate the issuance of Industrial Development Bonds by the City of South Bend, Indiana to provide funds for the acquisition and installa- tion of machinery for the additional improvement of such economic development facilities.