No. 2225 amended and restated authorizing the issuance of COSB redevelopment district adjustable rate demand tax increment revenue bonds (series 2006 Erskine Commons Project) and other related matters

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distribution of Bonds to the purchasers thereof. The President of the Commission (the "President ") is hereby authorized to take such action as may be necessary to provide for the Bonds to be issued in book - entry -only form, including without limitation executing a Blanket Issuer Letter of Representations. Each Bond shall be transferable or exchangeable only upon the official books for the registration and for the transfer of the Bonds (the 'Bond Register ") as set forth in the Indenture. SECTION 2. There is hereby created and established Allocation Area No. 2 Fund (the "Allocation Fund "), and the Project Tax Increment Revenues received by the Commission shall be deposited into the Allocation Fund. There are hereby further created and established in the Allocation Fund a Project Tax Increment Revenue Account, into which all Project Tax Increment Revenues received (including any Project Tax Increment Revenues on deposit in the Allocation Fund as of the date of delivery of the Bonds) shall be deposited and held in reserve for payment of debt service on the Bonds pursuant to this Resolution and Indiana Code 36- 7- 14 -39, a Bond Principal and Interest Account and a General Account, each of which the Controller, the Commission and the Department hereby covenant and agree to cause to be kept and maintained. On July 15, 2006, and each January 15 and July 15 thereafter, all monies in the Project Tax Increment Revenue Account shall be set aside in the following accounts within the Allocation Fund, in the following order of priority: (a) Bond Principal and Interest Account. There shall be set aside within Allocation Fund and deposited into the Bond Principal and Interest Account from the Project Tax Increment Revenue Account, to the extent available, an amount of money which, together with any money contained therein, is equal to (i) the aggregate amount of the principal and interest due during that bond year and any shortfall from previous bond years with respect to the Bonds and (ii) the aggregate amount of principal and interest due during that bond year and any shortfall from previous bond years with respect to the taxable economic development revenue bonds issued by the City in accordance with Ind. Code § 36 -7 -11.9 and 12 on July 13, 2005, in an aggregate principal amount of Three Million Five Hundred Thousand and 00 /100 Dollars (the "EDC Bonds "), the proceeds of which are to be used by the Developer to finance a portion of the costs of the Project. In connection with the issuance of said EDC Bonds, the Commission has previously adopted Resolution No. 2087 on August 20, 2004, pledging Project Tax Increment Revenues to the payment of principal of and interest on the EDC Bonds on a basis which is junior and subordinate to the Bonds, but senior to all other obligations or indebtedness. For this purpose, (i) a "bond year" shall be deemed to be a year from February 2 to and including the following February 1 and (ii) while either the Bonds or the EDC Bonds bear interest at a variable rate, the interest rate used to calculate the amount of interest due on such variable rate bonds shall be deemed to be the Maximum Rate (as defined in the Indenture for the Bonds, and for the EDC Bonds, as defined in the trust indenture securing the EDC Bonds). No deposit need be made into the Bond Principal and Interest Account if the amount contained therein is at least equal to the aggregate amount of principal and interest due and payable with respect to the Bonds and the EDC Bonds during the remainder of that bond year. All money in the Bond Principal and Interest BDDB01 33020845 - 6 -