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3 <br /> the City for the Project and the jobs which it would create; and <br /> WHEREAS, the Commission has heretofore investigated, studied, surveyed and <br /> reported to the Mayor and the Common Council, that a need exists in the com- <br /> munity for the preservation of existing jobs within the City, and to achieve <br /> that goal the Construction Indebtedness should be refinanced; and <br /> WHEREAS, to induce Brethren Care to refinance the Construction Indebtedness, <br /> the Commission on May 9, 1983 approved the application of Brethren Care for the <br /> issuance of up to Seven Million Eight Hundred Thousand Dollars of Economic <br /> Development Revenue Bonds and also passed an Inducement Resolution relating <br /> thereto; and <br /> WHEREAS, to induce Brethren Care to refinance the Construction Indebtedness <br /> and thereby contribute to the revitalization of the Project and the preservation <br /> of jobs, the Council desires to adopt this resolution; <br /> NOW, THEREFORE, BE IT RESOLVED, that in order to encourage, induce and soli- <br /> cit the application by Brethren Care for an amount not exceeding Seven Million <br /> Eight Hundred Thousand Dollars of Economic Development Revenue Bonds to be <br /> issued by the City of South Bend, Indiana, for the refinancing of the <br /> Construction Indebtedness relating to the Project in South Bend, Indiana, the <br /> City of South Bend shall proceed to cooperate with and take any action as may be <br /> necessary in drafting of documents or the performance of such other acts as will <br />