60-18 Bond Financing for the Community Center Project

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ARTICLE II THE BONDS Section 2.1 Authorized Amount of Bonds. No Bonds may be issued under the provisions of this Indenture except in accordance with this Article. The principal amount of the Series 20_ Bonds (other than Bonds issued in substitution therefor pursuant to Section 2.8 hereof) that may be issued is hereby expressly limited to $4,800,000. Section 2.2 Issuance of the Bonds. (a) The Series 20_ Bonds shall be designated "City of South Bend, Indiana, Economic Development Tax Increment Revenue Bonds, Series 20_ (Community Education Center Project)," and shall have such terms, conditions and characteristics as specified in the form of the Series 20 Bonds attached as Exhibit A hereto and made a part hereof. The Series 20 Bonds shall be numbered from _R-1 upwards; provided, however, that the Series 20_ Bonds may be numbered in any other manner acceptable to the Trustee and the Issuer. (b) The Series 20 Bonds shall be originally issuable as fully registered Bonds without coupons in denominations of$5,000 or any integral multiples thereof. (c) The Series 20_ Bonds shall be dated as of the date of their delivery. Interest shall be computed on the basis of a three hundred sixty (360) day year consisting of twelve (12) thirty(30) day months. The interest on the Series 20 Bonds shall be payable on each February 1 and August 1, commencing on 1, 20_. The Series 20_Bonds shall bear interest from the Interest Payment Date next preceding the date of authentication thereof, unless such date of authentication shall be subsequent to a Record Date in which case they shall bear interest from such Interest Payment Date. (d) The Series 20_ Bonds shall mature on February 1 and/or August 1 in the years and in the principal amounts, and shall bear interest at the rates per annum all as set forth below: Maturity Date Principal Amount Interest Rate Section 2.3 Payment of Principal and Interest on the Bonds. The interest on the Bonds shall be payable by check or draft mailed one Business Day prior to the Interest Payment Date to the person in whose name each Bond is registered as of the Record Date for such Interest Payment Date at each address as it appears on the registration and transfer books maintained by the Registrar or at such other address as is provided to the Trustee, the Registrar and the Paying Agent in writing by such registered owner. Each registered owner of $1,000,000 or more in principal amount of Bonds shall be entitled to receive principal and interest payments by wire transfer by providing written wire instructions to the Trustee, the Registrar and the Paying Agent before the Record Date for such payment. The final payment of principal and interest on the Bonds shall be payable in lawful money of the United States of America, at the designated corporate trust office of the Paying Agent, initially in Indianapolis, Indiana. Section 2.4 Execution; Limited Obligation. The Bonds shall be executed on behalf of the Issuer with the manual or facsimile signature of the Mayor of the City and attested with the 10