Inducement Resolution relating to the Ireland/Ironwood Associates Project

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PAGE TWO Section 2. In order to encourage, induce and solicit such application by Ireland /Ironwood Associates for such Indus- trial Revenue Bond issue relating to the land purchase construc- tion and erection of such economic development facilities, the South Bend Economic Development Commission on behalf of the City of South Bend, shall proceed to cooperate with and take such ac- tion as may be necessary in the approval and drafting of docu- ments or the performing of such other acts as will facilitate the issuance of such Industrial Revenue Bonds by the City of South Bend to provide funds to be used in the land purchase con- struction and erection of such economic development facilities. Section 3. Any costs or expenses incurred in connection with said Ireland /Ironwood Associates Project shall be included in the project costs and reimbursed from the proceeds of the In- dustrial Revenue Bonds to be issued with respect thereto. Section 4. This resolution shall be in full force and effect from and after its passage by the Common Council of the City of South Bend and approved by the Mayor. PRESENTED 7 aJ -7/ NOT APPROYED WDOPTER 'r'� 7 Jc of t e ommon Counci JUL. 17 19;' 811`18ne t or, CITY CLERK, SOUTH B ND, IND.