Inducement Resolution Relating to the Financing of Economic Development Facilities for Interlinx Corporation

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RESOLUTION NO. s'( aa -Ff INDUCEMENT RESOLUTION RELATING TO THE FINANCING OF ECONOMIC DEVELOPMENT FACILITIES FOR INTERLINX CORP, PURSUANT TO THE PROVISIONS OF INDIANA CODE 18-6-4. 5 , AS AMENDED. Statement of Purpose and Intent: At the present time there are insufficient employment op- portunities and insufficient diversification of industries, which conditions are harmful to the economic stability and general welfare of the area and, if not remedied, will be detrimental to the development of such area. The City of South Bend, Indiana (the "City" ) is authorized under provisions of Indiana Code 18-6-4. 5 , as amended (the "Act") , to acquire construct and fin- ance economic development projects for the users thereof and to provide for the issuance of revenue bonds in conjunction there- with. The City, in order to implement the public purposes enum- erated in the Act and in furtherance thereof to induce interLinx Corp, an Indiana corporation (the "Borrower") to purchase land, improvements , equipment, furnishings and fixtures which will con- stitute an economic development facility (the "facility" ) within the limits of South Bend, Indiana, has indicated its intent to issue its revenue bonds under and pursuant to the provisions of the Act and to apply the proceeds therefrom to the payment of the costs of the facility.