No. 0925 authorizing the issuance/sale of special taxing district bonds of the SB redevelopment district for purpose of raising money for property acquisition and redevelopment in the Studebaker Corridor Dev Area

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cost of all expenses reasonably incurred in connection with the acquisition and redevelopment of the Area, including the total cost of all land, rights -of -way and other property to be acquired and redeveloped, all reasonable and necessary architectural, engineering, legal, financing, accounting, advertising, bond discount and supervisory expenses, capitalized intertest and expenses the Commission may be required or permitted to pay as "relocation assistance" under IC 8 -13 -18.5, together with the expenses in connection with or on account of the issuance of bonds therefor, all in and with respect to the Area. Reference is hereby made to the Resolution for a description of the nature and extent of the rights, duties and obligations of the owners of the bonds, the City and the Commission and the terms on which this bond is issued, and to all the provisions of such Resolution to which the holder hereof by the acceptance of this bond assents. This bond, together with interest hereon, does not constitute a corporate obligation or indebtedness of the City of South Bend, but the same is an obligation and an indebtedness of the District, as a special taxing district. This bond, together with interest hereon, shall be payable only out of a special tax to be levied upon all of the taxable property within the District, as provided in IC 36 -7 -14. The City, acting through the Commission, its Department of Redevelopment and its Common Council, covenants that it will cause a special tax for the payment of the principal of and interest on the bonds to be levied, collected and applied for that purpose. Subject to the provisions of the Resolution for registration, this bond is negotiable under the laws of the State of Indiana. The terms and provisions of this bond are continued on the reverse side hereof, and such continued terms and provisions shall for all purposes have the same effect as though fully set forth at this place. It is hereby certified and recited that all acts, conditions and things required by law and the Constitution of the State of Indiana to be done precedent to and in the execution, issuance, sale and delivery of this bond have been properly done, happened and performed in regular and due form as prescribed by law, and that the total indebtedness of the South Bend Redevelopment District, including the bonds of this issue, does not exceed any constitutional or statutory limitation of indebtedness. This bond shall not be valid or become obligatory for any purpose or be entitled to any security or benefit under the Resolution authorizing this bond until the certificate of authentication hereon shall have been duly executed by an authorized representative of the Registrar. -10- \rlhill\studbakr\corrproj\lufnlbnd;la;Apri1 6, 1990;