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which will result in the creation of new jobs in and near South <br /> Bend, Indiana. <br /> NOW, THEREFORE, the Common Council of the City of <br /> South Bend, Indiana resolves as follows: <br /> 1. The project constitutes economic development <br /> facilities which shall be financed by the City through the <br /> issuance of revenue bonds pursuant to the Act and the City is <br /> willing, upon compliance with all provisions of Indiana law, to <br /> authorize approximately Nine Hundred Ninety Thousand and no/100 <br /> Dollars ($990 ,000 .00) of its revenue bonds, which bonds will <br /> not be general obligations of the City but will be payable <br /> solely from the limited sources authorized and permitted by the <br /> Act. <br /> 2 . The proposed financing will be of benefit to the <br /> economic welfare of the City and will comply with the purposes <br /> and provisions of the Act. <br /> 3 . Whiteford NationaLease, Inc. may proceed with <br /> acquisition and construction of the economic development facil- <br /> ities in reliance upon this resolution. <br /> 4. That the liability and obligation of the South <br /> Bend Economic Development Commission, the South Bend Common <br /> Council and the City of South Bend, Indiana, shall be limited <br /> solely to the good faith efforts to consummate such proceedings <br /> and issue such Bonds, and the South Bend Economic Development <br /> Commission and the City of South Bend, Indiana, their officers <br /> and agents, shall not incur any liability if for any reason the <br /> proposed issuance of such Bonds is not consummated. <br /> -2- <br />