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with all provisions of Indiana law, to authorize approximately <br />Three Hundred Thousand ($300,000.00) Dollars of its revenue bonds, <br />which bonds will not be general obligations of the City but will be <br />payable solely from the limited sources authorized and permitted <br />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 and <br />provisions of the Act. <br />3. Jeffry S. Beardsley may proceed with acquisition of <br />the economic development facilities in .reliance upon this resolution. <br />4. That the liability and obligation of the South Bend <br />Economic Development Commission, the South.Bend Common Council and <br />the City of South Bend, Indiana, shall be limited solely to the <br />good faith efforts to consummate such proceedings and issue such <br />Bonds, and the South Bend.Economic Development Commission and the <br />City of South Bend, Indiana, their officers or agents, shall not <br />incur any liability if for any reason the proposed issuance of <br />such bonds is not consummated. <br />This Inducement Resolution shall be in full force and <br />effect from and. after its adop - - <br />approval by the Mayor. <br />FILED IN CLUK'S OFFICE <br />OCT 2 1981 <br />Irene Gammon <br />CITY CLERK, SOWN BEND, IND. <br />PRESENTED lC - /, S// <br />NOT APPROVED <br />2 - <br />ADOPTED 4� <br />