until the City's obligation with respect to the payment of said Principal Sum
<br />shall be discharged, at the rate per annum specified above from the interest
<br />payment date to which interest had been paid next preceding the date of
<br />authentication of this Bond, unless this Bond is authenticated on or before July
<br />15, 1993, in which case the interest shall be paid from such interest payment
<br />date. Interest is payable August 1, 1993, and semiannually thereafter on
<br />February 1, and August 1, of each year by check or draft. Interest shall be
<br />calculated on the basis of twelve (12) thirty (30) day months for a three
<br />hundred sixty (360) day year.
<br />The principal of and premium, if any, on this Bond are payable at
<br />the principal office of Norwest Bank Indiana, N.A., South Bend, Indiana, as
<br />Paying Agent (which term shall include any successor Paying Agent). Interest
<br />on this Bond shall be paid by check or draft mailed or delivered to the
<br />Registered Owner hereof at the address as it appears on the books kept by
<br />Norwest Bank Indiana, N.A., as Registrar (which term shall include any successor
<br />Registrar) for the registration and for the transfer of the Bonds (the "Series
<br />1992 Bond Register') as of the fifteenth (15th) day of the month immediately
<br />preceding the interest payment date or at such other address as provided to the
<br />Paying Agent in writing by the Registered Owner. All payments on this Bond
<br />shall be made in lawful money of the Untied States of America.
<br />THIS BOND, TOGETHER WITH INTEREST THEREON, DOES NOT CONSTITUTE A
<br />CORPORATE OBLIGATION OR INDEBTEDNESS OF THE CITY OF SOUTH BEND, BUT THE SAME IS
<br />AN OBLIGATION OF THE SOUTH BEND REDEVELOPMENT DISTRICT, WHICH IS A SPECIAL
<br />TAXING DISTRICT HAVING THE SAME BOUNDARIES AS THE CITY OF SOUTH BEND, AND IS
<br />PAYABLE SOLELY OUT OF THE TAX INCREMENT. SUBJECT TO THE PROVISIONS FOR
<br />REGISTRATION, THIS BOND IS NEGOTIABLE UNDER THE LAWS OF THE STATE OF INDIANA.
<br />This Bond is one of an authorized issue of Bonds of the South Bend
<br />Redevelopment District in the aggregate principal amount of Two Million Nine
<br />Hundred Thousand and 00 /100 Dollars ($2,900,000.00), numbered consecutively from
<br />92R -1 upwards, issued pursuant to a resolution entitled 'A RESOLUTION OF THE
<br />SOUTH BEND REDEVELOPMENT COMMISSION AUTHORIZING THE ISSUANCE OF BONDS ON PARITY
<br />WITH THE CITY OF SOUTH BEND REDEVELOPMENT DISTRICT TAX INCREMENT REVENUE BONDS
<br />OF 1985, THE CITY OF SOUTH BEND REDEVELOPMENT DISTRICT TAX INCREMENT REVENUE
<br />BONDS OF 1986 AND THE CITY OF SOUTH BEND REDEVELOPMENT DISTRICT TAX INCREMENT
<br />REVENUE BONDS OF 1988 FOR THE PURPOSE OF RAISING MONEY FOR REDEVELOPMENT IN THE
<br />SOUTH BEND CENTRAL ALLOCATION AREA," being Resolution No. 1118 (the 'Series 1992
<br />Bond Resolution ") adopted by the South Bend Redevelopment Commission (the
<br />"Commission ") on December 4, 1992, and in strict compliance with IC 36 -7 -14, for
<br />the purpose of raising money to pay for the cost of redevelopment in the
<br />Allocation Area related to the College Football Hall of Fame Project (the
<br />"Project "), together with a sum sufficient to pay the estimated cost of all
<br />expenses reasonably incurred in connection with redevelopment in the Allocation
<br />Area related to the Project, including all necessary architectural engineering,
<br />legal, accounting, advertising, bond discount and supervisory expense, a debt
<br />service reserve and capitalized interest, as provided in the Series 1992 Bond
<br />Resolution, together with the expenses in connection with the issuance of the
<br />Bonds, all as described in the Series 1992 Bond Resolution. Reference is hereby
<br />made to the Series 1992 Bond Resolution for a description of the nature and
<br />extent of the rights, duties and obligations of the owners of the Bonds, the
<br />City and the Commission and the terms on which this Bond is issued, and to all
<br />4�
<br />the provisions of the Series 1992 Bond Resolution to which the holder hereof by
<br />the acceptance of this Bond assents.
<br />Bonds of this issue are subject to redemption at the option of the
<br />Commission beginning on August 1, 1993, and on each succeeding February 1 and
<br />August 1 thereafter, as a whole or in part from time to time (only in Authorized
<br />Denominations) in any order of maturity selected by the Commission and by lot
<br />(in such manner as the Registrar shall determine) within a maturity, at face
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