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registered owner of a 2005 Bond has been obtained, the Registrar shall be entitled to treat the <br />beneficial owners of the 2005 Bonds as the bondholders and any consent, request, direction, <br />approval, objection or other instrument of such beneficial owner maybe obtained in the fashion <br />described in this Ordinance. <br />During any time that the 2005 Bonds are held in book-entry form on the books of a <br />Clearing Agency, the Executive, the Fiscal Officer and/or the Registrar are authorized to execute <br />and deliver a Letter of Representations agreement with the Clearing Agency, or a Blanket Issuer <br />Letter of Representations, and the provisions of any such Letter of Representations or any <br />successor agreement shall control on the matters set forth therein. The Registrar, by accepting <br />the duties of Registrar under this Ordinance, agrees that it will (i) undertake the duties of agent <br />required thereby and that those duties to be undertaken by either the agent or the issuer shall be <br />the responsibility of the Registrar, and (ii) comply with all requirements of the Clearing Agency, <br />including without limitation same day funds settlement payment procedures. Further, during any <br />time that the 2005 Bonds are held in book-entry form, the provisions of Section 8 of this <br />Ordinance shall control over conflicting provisions in any other section of this Ordinance. <br />SECTION 9. Form of 2005 Bonds. The form and tenor of the 2005 Bonds shall be <br />substantially as follows, all blanks to be filled in properly and all necessary additions and <br />deletions to be made prior to delivery: <br />R- <br />UNITED STATES OF AMERICA <br />STATE OF INDIANA <br />COUNTY OF ST. JOSEPH <br />CITY OF SOUTH BEND, INDIANA <br />WATERWORKS REVENUE BOND OF 2005 <br />Interest Maturity Original Authentication <br />Rate Date Date Date <br />1 , 20_ , 2005 <br />REGISTERED OWNER: <br />PRINCII'AL SUM: <br />2005 <br />Dollars ($_~ <br />CUSIP No. <br />The City of South Bend, in St. Joseph, County, State of Indiana (the "City"), for <br />value received, hereby promises to pay to the Registered Owner set forth above, solely <br />out of the special revenue fund hereinafter referred to, the Principal Sum set forth above <br />on the Maturity Date set forth above (unless this bond be subject to and be called for <br />redemption prior to maturity as hereafter provided), and to pay interest thereon until the <br />Cede & Co. <br />-9- <br />