No. 0819 authorizing issuance of bonds on parity with COSB redevelopment district tax increment revenue bonds of 1985 & 1986 for purpose of raising money for property acquisition and redevelopment in SBCAA

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LOPMENT DISTRICT TAX INCREMENT REVENUE BONDS OF 1985 AND THE CITY OF SOUTH BEND REDEVELOPMENT DISTRICT TAX INCREMENT REVENUE BONDS OF 1986 FOR THE PURPOSE OF RAISING MONEY FOR PROPERTY ACQUISITION AND REDEVE- LOPMENT IN THE SOUTH BEND CENTRAL ALLOCATION AREA," being Resolution No. 819 (the "Series 1988 Bond Resolution ") adopted by the South Bend Redevelopment Commission (the "Commission ") on November 12, 1987, and in strict compliance with IC 36 -7 -14, for the purpose of raising money to pay for the cost of property acquisition and redevelopment in the Allocation Area together with a sum sufficient to pay the estimated cost of all expenses reasonably incurred in connection with the acquisition and redevelopment of the Allocation Area, including the total cost of all land, rights -of -way and other property to be acquired and redeveloped, all necessary architectural engineering, legal, accounting, advertising, bond discount and supervisory expense, a debt service reserve and capitalized interest, as provided in the Series 1988 Bond Resolution, and expenses the Commission may be required to pay as "relocation assistance" under IC 8 -13 -18.5, together with the expenses in connection with the issuance of the bonds, all as described in the Series 1988 Bond Resolution. Reference is hereby made to the Series 1988 Bond 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 the Series 1988 Bond Resolution to which the holder hereof by the acceptance of this bond assents. Bonds of this issue maturing on February 1, 2000, and thereafter, are redeemable on and after February 1, 1999, at the option of the Commission in whole on any date or in part (only in authorized denomi- nations) in any order of maturity selected by the Commission and by lot (in such manner as the Registrar shall determine) within a maturity on February 1, 1999, and on any interest payment date there- after. Bonds so redeemed shall be redeemed on such redemption date at a price of 100% of the principal amount of the bonds outstanding to be redeemed plus accrued interest to the redemption date on the principal amount to be redeemed, and without premium. Unless waived by any holder of bonds to be redeemed, official notice of any such redemption shall be given by the Registrar on behalf of the Commission by mailing a copy of an official redemption notice by registered or certified mail at least thirty (30) days and not more than sixty (60) days prior to the date fixed for redemption to the registered owner of the bond or bonds to be redeemed at the address shown on the Series 1988 Bond Register or at such other address as is furnished in writing by such registered owner to the Registrar; provided, however, that failure to give such notice, or any defect therein, with respect to any bond shall not affect the validity of any proceedings for the redemption of other bonds. Official notice of redemption having been given as aforesaid, the bond or portions of bonds so to be redeemed shall, on the redemption date, become due and payable at the redemption price therein speci- -13-