Inducement Resolution of City of South Bend, Indiana Kokoku Wire Industries Corporation

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WHEREAS, the proceeds of the Bonds will be used by the Company to acquire and rehabilitate facilities for use as a wire manufacturing facility located on a 13 . 455-acre plot at the intersection of Sample and Walnut Streets, commonly known as 1217 South Walnut Street, South Bend, Indiana, which facility shall result in approximately forty-five (45) new jobs . NOW, THEREFORE, the Common Council of the City of South Bend, Indiana resolves as follows : 1 . The project constitutes economic development facilities which shall be financed by the City through the issuance of revenue bonds pursuant to the Act and the City is willing, upon compliance with all provisions of Indiana law, to authorize approximately Three Million Two Hundred Thousand and no/100 Dollars ($3 , 200, 000 . 00) of its revenue bonds , which Bonds will not be general obligations of the City but will be payable solely from the limited sources authorized and permitted by the Act . 2 . The proposed financing will be of benefit to the economic welfare of the City, will comply with the purposes and provisions of the Act, and the proposed facility shall not have an adverse competitive effect on other similar facilities in the City. 3 . The Company may proceed with the acquisition and rehabilitation of the economic development facilities in reliance upon this resolution. -2-