No. 0413 authorize issuance of bands for the purpose of defraying expenses - Project IN R-66

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on the and to pay interest thereon solely out of--t-he said special y tax, from the date hereof until the principal is paid, at the rate of ercent (o) per annum, which interest is paya le on July 1, 1973, and semi - annually thereafter on January 1 and July 1 of each year, upon presentation and surrender of the annexed interest coupons as they severally become due. Both principal and interest of this bond are payable in lawful money of the United States of America at the St. Joseph Bank and Trust Company of South Bend, Indiana or the Central National Bank of Chicago, Illinois. This bond is one of an authorized issue of Seven Hundred and Sixty (760) bonds of like date and tenor, except as to numbering and dates of maturity, in the total amount of Three Million and Eight Hundred Thousand Dollars ($3,800,000), issued by the South Bend Redevelopment District pursuant to a Resolution adopted by the South Bend Redevelopment RW Commission on July 21, 1972, and in strict com- pliance with IC 1971, 18 -7 -7 (Sections 48 -8341 et seq. of Burns: Indiana Statutes), for the purpose of providing funds to pay the cost of acquisition, clearance, rehabilitation, site improvement and renewal of property described in Resolution No. 21S adopted by the South Bend Redevelopment Commission on April 4, 1968 (Central Downtown Project, Indiana R -66), and all expenses necessarily incurred in connection with said proceedings. This bond does not constitute a corporate obligation or indebtedness of the City of South Bend, but the same is an obligation of the South Bend Redevelopment District and is payable only out of the special taxes to be levied upon all of the property within said District and deposited in the Redevelopment District Bond Fund of said District. Under the provisions of the authorizing statute, this bond is negotiable as an inland bill of exchange. 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 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 indebted- ness of the South Bend Redevelopment District, in- cluding the bonds of this issue, does not exceed any Constitutional or statutory limitation of indebtedness. The City of South Bend, acting by and through its Department of Redevelopment and its Redevelopment Commission covenants that it will cause a special tax for the payment of L - L _ _ -1 - - e, _ • - _ - _ _ - - i - 1_ - t _ - _ _ _ 1 - - I I _ _ _ 1