No. 2012 authorizing issuance of bonds for purpose of providing funds for refunding outstanding bonds and financing redevelopment projects in SBCAA (No. 1A) and paying incidental expenses in connection therewith and on account of issuance of bonds

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The Commission shall have received a certificate prepared b an independent �) P P Y P certified public accountant or an independent financial consultant with professional experience in the business of estimating the levels of and increases in assessed valuation in the State of Indiana and the expected changes in property tax rates caused by such changes (the "Certi ier'), certifying that the Tax Increment estimated to be received in each succeeding year is at least equal to 125% of the principal and interest requirements on all outstanding 2003 Bonds and Additional Bonds and the proposed issue of Additional Bonds, for each respective year during the term of such outstanding 2003 Bonds and Additional Bonds and the proposed Additional Bonds. In estimating the Tax Increment to be received in any future year, the Certifier shall base his calculation on estimates, believed by the Certifier to be reasonable, including without limitation estimates of investment earnings; provided, in estimating the Tax Increment to be received in any future year, the Certifier shall base his calculations on property actually assessed or to be assessed as of the assessment date immediately preceding the issuance of the proposed Additional Bonds; provided, however, the Certifier shall adjust such assessed values for the current and future reductions of real property tax abatements granted to property owners in the Area. (c) The principal of the proposed Additional Bonds shall be payable on the same dates as the principal of the 2003 Bonds, and the interest thereon shall be payable on February 1 and August 1, during the periods such principal and interest are payable. The Commission shall approve and confirm the findings and estimates set forth in the Adpftl kw� above - described certificate of a Certifier in any resolution authorizing the issuance of the Additional Bonds, and such certificate shall be updated by the Certifier as of the date of issuance of the Additional Bonds. 14 Section 13. Amendments. Subject to the terms and provisions contained in this section, and not otherwise, the owners of not less than fifty percent (50 %) in aggregate principal amount of the 2003 Bonds then outstanding shall have the right, from time to time, to consent to and approve the adoption by the Commission of such resolution or resolutions supplemental hereto which affects the 2003 Bonds as shall be deemed necessary or desirable by the Commission for the purpose of modifying, altering, amending, adding to or rescinding in any particular any of the terms or provisions contained in this resolution, or in any supplemental resolution; provided, however, that nothing herein contained shall permit or be construed as permitting: (a) An extension of the maturity of the principal of or interest on any 2003 Bond or an advancement of the earliest redemption date on any 2003 Bond, without the consent of the holder of each 2003 Bond so affected; or (b) A reduction in the principal amount of any 2003 Bond or the rate of interest thereon, or a change in the monetary medium in which such amounts are payable, without the consent of the holder of each 2003 Bond so affected; or (c) A preference or priority of any 2003 Bond over any other 2003 Bond, without the consent of the holders of all 2003 Bonds then outstanding; or -17-