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ana, and construct and equip a manufacturing facility thereon <br /> resulting in approximately 16 to 24 new jobs by Aucilla <br /> Plastics, Inc. and Dafir Realty with an annual payroll of <br /> between $300,000 and $500,000. <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 One Million Six Hundred Thousand and <br /> no/100 Dollars ($1,600,000.00) of its revenue bonds, which <br /> bonds will not be general obligations of the City but will be <br /> payable solely from the limited sources authorized and permit- <br /> ted by the 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. Aucilla Plastics, Inc. and Dafir Realty may pro- <br /> ceed with acquisition and construction of the economic develop- <br /> ment facilities 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 /> -2- <br />