No. 1965 authorizing the issuance of tax increment revenue bonds, series 2003, of the SB redevelopment district

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(40� Any reference to payment of principal on the Bonds shall include payment of scheduled mandatory sinking fund redemption payments described in this Section 2. SECTION 3. The form and tenor of the Bonds shall be substantially as follows (all blanks to be properly completed prior to the preparation of the Bonds): UNITED STATES OF AMERICA State of Indiana No. 03R- St. Joseph County CITY OF SOUTH BEND, INDIANA, REDEVELOPMENT DISTRICT TAX INCREMENT REVENUE BOND, SERIES 2003 Interest Maturity Original Authentication Rate Date Date Date Registered Owner: Principal Sum: The City of South Bend, Indiana (the "City "), acting for and on behalf of the South Bend Redevelopment District (a special taxing district having the same boundaries as the City) (the "Redevelopment District "), for value received, hereby promises to pay to the Registered Owner stated above, or registered assigns, but solely from taxes on real property located in the Airport Economic Development Area (the "Area ") allocated and deposited in the allocation fund for the Area (the "Allocation Fund ") pursuant to Indiana Code 36- 7- 14 -39, and proceeds from the sale or leasing of property in the Area under Indiana Code 36- 7 -14 -22 deposited in the Allocation Fund as required by Indiana Code 36- 7 -14 -26 (the "Tax Increment "), the Principal Sum stated above, on the Maturity Date stated above and to pay interest on said Principal Sum, on behalf of the Redevelopment District, to the Registered Owner of this bond until the City's obligation with respect to the payment of said Principal Sum shall be discharged, at the rate per annum specified above from the interest payment date next preceding the date of authentication of this bond, unless this bond is authenticated on or before January 15, 2004, in which case the interest shall be paid from the Original Date stated 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 on February 1, 2004, and semiannually thereafter on February 1 and August 1 SBIMANI 145795v2 - 8 -