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RESOLUTION NO. L3ga-8'a' <br /> INDUCEMENT RESOLUTION <br /> OF <br /> THE CITY OF SOUTH BEND, INDIANA <br /> RELATING TO APPLICATIONS BY <br /> SOUTH BEND ORTHOPEDIC ASSOCIATES, INC. , <br /> AND TRIPODS PARTNERSHIP <br /> FOR THE ISSUANCE OF <br /> CITY OF SOUTH BEND ECONOMIC DEVELOPMENT REVENUE BONDS <br /> WHEREAS, at the present time there are insufficient <br /> employment opportunities and insufficient diversification of <br /> business, commerce and industry in and near the City of South <br /> Bend, Indiana (the "City") ; and <br /> WHEREAS, the economic welfare of the City would be <br /> benefited by the acquisition and construction of economic <br /> development facilities within the corporate limits of the City <br /> pursuant to the provisions of Indiana Code 36-7-12 (the "Act") ; <br /> and <br /> WHEREAS, South Bend Orthopedic Associates, Inc. , an <br /> Indiana corporation and/or Tripods Partnership, an Indiana <br /> partnership (hereinafter collectively referred to as "Appli- <br /> cant") proposes to acquire and construct economic development <br /> facilities in South Bend, Indiana as defined in the Act if the <br /> City will finance costs of such economic development facilities <br /> pursuant to the Act; and <br /> WHEREAS, the South Bend Economic Development Commis- <br /> sion has received an application by Applicant for the issuance <br /> of City of South Bend Economic Development Revenue Bonds in the <br /> approximate principal amount of One Million Two Hundred Thou- <br /> sand and no/100 Dollars ($1,200, 000. 00) with the terms of <br />