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revenue bonds in an amount of approximately $2,400,000 (or such <br />lesser amount as may be agreed upon), which bonds will not be general <br />obligations of the City but will be payable.solely from the limited <br />sources authorized and permitted by the Act. <br />2. The proposed financing will be of benefit to the economic <br />welfare of the City and will comply with the.purposes and provisions <br />of the Act. <br />3. The Company may proceed with acquisition and construction <br />of the economic development facilities in reliance upon thisresolution. <br />4. The liability and obligation of the South Bend Economic <br />Development Commission, the South Bend Common Council and the City <br />of South Bend, Indiana, shall be limited.solely to the good faith <br />efforts to consummate such proceedings and issue such Bonds, and the <br />South Bend Economic Development Commission and the City of South <br />Bend, Indiana, their officers or agents, shall not incur any liability <br />if for any reason the proposed 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 />Haas 'AMovEa <br />cn•- • •uu,• • <br />FILED I� M's OBE <br />JUL 2 21981 <br />Irene Gammon <br />CR CIERKrMO BEND, w. <br />