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revenue bonds pursuant to the Act and the City is willing, upon <br /> compliance with all provisions of Indiana law, to authorize <br /> approximately One Million Dollars ($1 ,000 ,000 .00) of its revenue <br /> bonds , which bonds will not be general obligations of the City <br /> but will be payable solely from the limited sources authorized <br /> and permitted 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 . Harbor Metal Treating of Indiana, Inc. may proceed with <br /> acquisition of the economic development facilities in reliance <br /> upon this resolution. <br /> 4 . That the liability and obligation of the South Bend <br /> Economic Development Commission, the South Bend Common Council <br /> and the City of South Bend, Indiana, shall be limited solely to <br /> the good faith efforts to consummate such proceedings and issue <br /> such Bonds , and the South Bend Economic Development Commission <br /> and the City of South Bend, Indiana, their officers or agents , <br /> shall not incur any liability if for any reason the proposed <br /> issuance of such bonds is not consummated. <br /> This Inducement Resolution shall be in full force and effect <br /> from and after its adoption by the Common Council and approval by <br /> the Mayor. <br /> ember o the Common Counci1T <br /> FILED IN CLERK'S OFFICE <br /> JUL 1 2 1982 <br /> Irene Gammon <br /> CITY CLERK,SOUTH BEND,M. <br /> NOT APPRQVED <br /> ADOPTED e 7—/a-d'.; 2 <br />