Authorize- Issuance of Revenue Bonds $11,960,000

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, . UNITED STATES OF AMERICA STATE OF INDIANA COUNTY OF ST. JOSEPH No. 97R- $ CITY OF SOUTH BEND, INDIANA, COUNTY ECONOMIC DEVELOPMENT INCOME TAX REVENUE BOND OF 1997 INTEREST MATURITY ORIGINAL AUTHENTICATION RATE DATE DATE DATE % 1, 1, 1997 REGISTERED OWNER: PRINCIPAL SUM: The City of South Bend(the"City"), in the State of Indiana,for value received,hereby promises to pay to the Registered Owner (named above) or registered assigns, but solely from the special revenue fund hereinafter referred to, the Principal Sum set forth above on the Maturity Date set forth above, and to pay interest on the Principal Sum to the Registered Owner of this bond until the City's obligation with respect to the payment of the Principal Sum shall be discharged,at the per annum rate specified above from the interest payment date immediately preceding the date of authentication of this bond, unless this bond is authenticated on or before July 15, 1997, in which case interest shall be paid from the Original Date specified above,or unless this bond is authenticated between the fifteenth day of the month preceding an interest payment date and the interest payment date, in which case interest shall be paid from such interest payment date. Interest is payable August 1, 1997, and semiannually thereafter on February 1 and August 1 of each year by check or draft. Interest shall be calculated on the basis of twelve (12) thirty-day months for a three hundred sixty-day year. The principal of and premium, if any, on this bond are payable in lawful money of the United States of America at the principal office of in the City of , Indiana,as Paying Agent (which term shall include any successor paying agent). Interest on this bond shall be paid by check or draft mailed or delivered to the Registered Owner hereof at the address as it appears on the books kept by ,Indiana, in the City of as Registrar(which term shall include any successor registrar)for the registration and for the transfer of the bonds (the "Bond Register") as of the fifteenth day of the month immediately preceding the interest payment date or at such other address as is provided to the Paying Agent in writing by the Registered Owner. All payments on this bond shall be made in any coin or currency of the United States of America which on the dates of such payments shall be legal tender for the payment of public and private debts. This bond is one of an authorized issue of bonds of the City of South Bend, Indiana, aggregating and 00/100 Dollars($_,OQ0.00)numbered consecutively from 97R-1 upwards, issued pursuant to an ordinance adopted by the Common Council of the City on , 1997, entitled"An Ordinance of the City of South Bend,Indiana,Authorizing the Issuance and Sale of County Economic Development Income Tax Revenue Bonds of the City Payable Solely from County Economic Development Income Tax Revenues to be Received by the City in the Principal Amount not to exceed Eleven Million Nine Hundred Sixty Thousand and 00/100 Dollars -6-