Inducement Resolution relating to H.T.W. Partnership Project

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issued by the City of South Bend, Indiana, for an amount not exceeding One Hundred Fifty Thousand Dollars ($150,000.00), repayable with interest thereon over a period of time and with a maturity date which does not extend beyond fifteen (15) years after the issue date; and BE IT FURTHER RESOLVED, that in order to encourage, induce and solicit such application by H.T.W. Partnership for such industrial Development Bond issue, the South Bend Common Council shall proceed to cooperate with and take such action as may be necessary in the drafting of documents or the performance of such other acts as will facilitate the issuance of such Indus- trial Development Bonds by the City of South Bend, Indiana, to provide funds to be used toward the payment of the costs for the expansion of such Economic Development Facilities; and BE IT FURTHER RESOLVED, that any costs or expenses incurred in connection with said H.T.W. Partnership Project shall be included in the project costs and reimbursed from the proceeds of the Industrial Development Bonds to be issued with respect thereto; and BE IT FURTHER RESOLVED, that the liability and obliga- tion of the South Bend Economic Development Commission and the City of South Bend, Indiana, shall be limited solely to the good faith efforts to consummate such proceedings and issue such Bonds, and neither the South Bend Economic Development Commission nor the City of South Bend, Indiana, or its officers or agents, shall incur any liability if for any reason the proposed issuance of such Bonds is not consummated. Dated this rRESENTEQ , . 3 - I -.)L " -7 9 NOT APPROVED ADOPTED ! L day of March, 1979• SOUTH BEND COMMO COUNCI Member of Common Council -2- HLEDat` 1979 [rene Gammon Cffy CLERK, SOUTH BEND, IND.