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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therefor. Series 1988 Bonds may be transferred or exchanged without cost to the registered owner, except for any tax or governmental charge required to be paid with respect to the exchange. The Regis- trar shall not be required to transfer or exchange any Series 1988 Bond called for redemption or during the period from the fifteenth day of any calendar month immediately preceding an interest payment date to such interest payment date. The City, the Commission, the Registrar and the Paying Agent may treat and consider the person in whose name such Series 1988 Bonds are registered as the absolute owner thereof for all purposes including for the purpose of receiving payment of, or on account of, the principal thereof and interest due thereon. In the event any Series 1988 Bond is mutilated, lost, stolen or destroyed, the City may execute and the Registrar may authenticate a new Series 1988 Bond of like date, maturity and denomination as that mutilated, lost, stolen or destroyed, which new Series 1988 Bond shall be marked in a manner to distinguish it from the Series 1988 Bond for which it was issued, provided that, in the case of any mutilated Series 1988 Bond, such mutilated Series 1988 Bond shall first be surrendered to the Registrar, and in the case of any lost, stolen or destroyed Series 1988 Bond there shall be first furnished to the City and the Registrar evidence of such loss, theft or destruc- tion satisfactory to the City and the Registrar, together with indem- nity satisfactory to them. In the event any such lost, stolen or destroyed Series 1988 Bond shall have matured, instead of issuing a duplicate series 1988 Bond, the City and the Registrar may, upon receiving indemnity satisfactory to them, pay the same without sur- render thereof. The City and the Registrar may charge the owner of such Series 1988 Bond with their reasonable fees and expenses in con- nection with the above. Every substitute Series 1988 Bond issued by reason of any Series 1988 Bond being lost, stolen or destroyed shall, with respect to such Series 1988 Bonds, constitute a substitute con- tractual obligation of the City, acting for and on behalf of the South Bend Redevelopment District, whether or not the lost, stolen or destroyed Series 1988 Bond shall be found at any time, and shall be entitled to all the benefits of this Series 1988 Bond Resolution, equally and proportionately with any and all other Series 1988 Bonds duly issued hereunder. SECTION 5. The Controller, the Commission and the Department covenant and agree to cause to be kept and maintained those accounts in the Allocation Fund created by the Series 1985 Bond Resolution at Section 5, those accounts being the Tax Increment Revenue Account, the Bond Principal and Interest Account, the Reserve Account and the General Account. On January 15, 1989, and each January 15th there- after, all monies in the Tax Increment Revenue Account shall be set aside in the respective special accounts within the Allocation Fund, in the following order of priority: (1) Bond Principal and Interest Account. (2) Reserve Account. -18-