Inducement Resolution Relating to Application by Data-Link Systems, Inc. for Issuance of Revenue Bonds

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Data-Link ' s payroll with an initial increase in its annual payroll of approximately Seven Hundred Fifty Thousand Dollars ($750,000) , 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 One Million Dollars ( $1,000,000) of its revenue bonds, which bonds will not be general obligations to 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 and will comply with the purposes and provisions of the Act. 3 . The Company may proceed with expansion and equipping of the economic development facilities in reliance upon this resolution. 4 . That the liability and obligation of the South Bend Economic Development Commission, the South Bend Common Council 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 the South Bend Economic Development Commission and the City of South Bend, Indiana, their officers and agents, shall not incur any liability if for any reason the proposed issuance of such Bonds is not consummated, This Inducement Resolution shall be in force and effect from and after its adoption by the Common Council and approval by the Mayor. FILED IN CLERK'S OF#10E PRESENTED if-2-g-5- APP 3 1985 NOT APPROVED Irene Gammon Member of t5Common Council ADOPTED V-2-8,5- CITY CLERK,SOUTNBEN" DATED: this _ day of _ , 1985