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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enterprise zone contained in the Allocation Area as provided in Section 39(g) of the Act. When no part of the Allocation Area is located in an enterprise zone then the Excess Funds shall be deposited as provided in subsection (d). (d) Except as provided in subsection (c), before July 15 of each year, the Commission shall (1) determine the amount, if any, of Excess Funds in the following year; and (2) notify the Auditor of St. Joseph County of the amount, if any, of the Excess Funds that the Commission has determined may be paid to the respective taxing units entitled thereto, provided that the Commission may not authorize a payment to the respective taxing units under this subsection if to do so would endanger the interests of the holders of the bonds (including the Bonds or the EDC Bonds) described in subsection (a) of this Section 2. (e) The Project Tax Increment Revenues other than the Excess Funds shall be irrevocably pledged for the purpose set forth in this Section 2. (f) All money in each of the accounts in the Allocation Fund shall be held in trust for the benefit of the holders of the Bonds and the EDC Bonds and shall be applied, used and withdrawn only for the purposes authorized in this Section 2. The proceeds of Allocation Fund shall be deposited with a legally qualified depository or depositories for funds of the City as now provided by law and shall be segregated and kept separate and apart from all other funds of the City and may be invested as permitted by law. Interest earned in each account or fund established under this Resolution shall be credited thereto. SECTION 3. The Commission hereby accepts and approves the form of the Trust Indenture presented to the Commission at this meeting, which Trust Indenture, along with the Bond Form, are incorporated herein by reference and shall be inserted in the minutes of the Commission and kept on file by the Secretary of the Commission (the "Secretary "). The President, and the Secretary are authorized and directed to execute and attest, respectively, the Trust Indenture approved herein, with such changes as the President and Secretary approve, with such approval to be conclusively evidenced by such execution and attestation. SECTION 4. (a) The Bonds shall be sold by private sale, as provided by Indiana Code § 36- 7- 14- 25.1(g), to Fifth Third Securities, Inc., upon terms acceptable to the President and the Controller and in accordance with the Trust Indenture, and the provisions of this Resolution. In no event shall the Bonds be sold at a purchase price of less than ninety- seven percent (97 %) of the par value of the Bonds or such higher purchase price as may be set forth in the Trust Indenture. The President and the Controller are hereby authorized to enter into and execute, on behalf of the Commission, a bond purchase agreement (the "Purchase Agreement ") for the sale of the Bonds on the terms and conditions set forth therein and consistent with the provisions of this Resolution. (b) The Bonds shall be offered and sold pursuant to an Offering Memorandum with respect to the Bonds (the "Offering Memorandum "), to be made available and BDDB01 33020845 - 9 -