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with all provisions of Indiana law, to authorize approximately <br />Two Hundred Twenty Five Thousand Dollars ($225,000.00) of its <br />revenue bonds, which bonds will not be general obligations of <br />the City but will be payable solely from the limited sources <br />authorized and permitted by the Act. <br />2) The proposed financing will be of benefit to the eco- <br />nomic welfare of the City and will comply with the purposes and <br />provisions of the Act. <br />3) Robert Freshley may proceed with the acquisition and <br />construction 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 />the City of South Bend, Indiana, the St. Joseph County Council <br />and St. Joseph County shall be limited solely to the good faith <br />efforts to consummate such proceedings and issue such Bonds, and <br />the South Bend Economic Development Commission, the City of South <br />Bend, Indiana and St. Joseph County, their officers or agents, <br />shall not incur any liability if for any reason the proposed is- <br />suance 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 />-;- PRESENTED <br />NOT APPROVED <br />ADOPTED <br />(7 <br />Member of the Common Cod -8_1i <br />- 2 - <br />FILED 11 ALE �'S I�t ICE <br />Irene Gammon <br />Clay CLERK, SOU-M BEND, IND. <br />