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RESOLUTION NO. WIS.-84 <br /> INDUCEMENT RESOLUTION <br /> OF <br /> THE CITY OF SOUTH BEND, INDIANA <br /> Relating to Crowe, Chizek and Company Project <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 of economic development facilities <br /> in the corporate limits of the City pursuant to the provisions <br /> of Indiana Code 36-7-12 (the "Act") ; and <br /> WHEREAS , Crowe, Chizek and Company, an Indiana <br /> accounting partnership, (the "Company" ) proposes to acquire <br /> economic development facilities in South Bend, Indiana as <br /> defined in the Act if the City will finance costs of such <br /> economic development facilities pursuant to the Act; <br /> WHEREAS, the South Bend Economic Development <br /> Commission has received an application from the Company for the <br /> issuance of City of South Bend Economic Development Bonds in <br /> the approximate principal amount of Three Million Five Hundred <br /> Thousand and no/100 Dollars ($3,500, 000. 00) with the terms of <br /> repayment to be determined by the market rates at the time the <br /> bonds are sold and the proceeds of the bonds will be used to <br /> construct an approximate 35, 600 square foot addition to the <br /> Company' s professional building, located at 330 East Jefferson <br /> Boulevard, South Bend, Indiana, resulting in the addition of <br />