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revenue bonds, which bonds will not be general obligations of the <br />City 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 ec- <br />onomic welfare of the City and will comply with the purposes and <br />provisions of the Act. <br />3. Carrico may proceed with the acquisition and con- <br />struction of the economic development facilities in reliance upon <br />this resolution. <br />4. That the liability and obligation of the South Bend <br />Economic Development Commission, the South Bend Common Council, the <br />City of South Bend, Indiana, the St. Joseph County Council and St. <br />Joseph County shall be limited solely to the good faith efforts to <br />consummate such proceedings and issue such Bonds, and the South Bend <br />Economic Development Commission, the City of South Bend, Indiana and <br />St. Joseph County, their officers or agents, shall not incur any <br />liability if for any reason the proposed issuance of such Bonds is <br />not consummated. <br />This Inducement Resolution shall be in full force and <br />effect from and after its adoption by the Common Council and approval <br />by the Mayor. <br />Member 3T the Common Council <br />- <br />PRESENTED <br />NOT APPROVED <br />ADOPTED &-_ a y 8 <br />-2- <br />F1 ID VLEti'",TS OFFICE <br />Irene Gammon <br />CITY CLERK, SOUTH BEND, IND, <br />