9550-04 Temporary loans to pay off previously issued temporary loans

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Section VI. The new Warrants issued hereunder with respect to the Funds shall be executed in the name of the City by the manual or facsimile signature of the Mayor of the City, countersigned by the manual or facsimile signature of the City Controller, and the corporate seal of the City affixed thereto, and attested by the manual or facsimile signature of the Clerk of the City (the "Clerk"), provided, however, that at least one such signature on the new Warrants shall be manual. All new Warrants shall be payable in lawful money of the United States of America at the office of the City Controller as Paying Agent. Section VII. The Warrants with respect to each Fund shall be issued in substantially the following form (all blanks, including the appropriate amounts, dates, and other information to be properly completed prior to the execution and delivery thereof: [Form of Warrant} UNITED STATES OF AMERICA STATE OF INDIANA Due Date: March 31, 2005 COUNTY OF ST. JOSEPH CITY OF SOUTH BEND, INDIANA TEMPORARY LOAN TAX ANTICIPATION TIME WARRANT ( FUND) FOR VALUE RECEIVED, on or before Mazch 31, 2005, the City of South Bend, Indiana (the "City). shall pay to the amount of $ (or so much thereof as may be advanced from time to time and be outstanding as evidenced by the records of the registered owner making payment for this Warrant, or its assigns) pursuant to a certain Warrant Purchase Agreement between the Bond Bank and the City, dated as of (the "Agreement") In addition, the City of The Due Date hereof shall pay to the bearer hereof interest at the rate of _ % per annum on the outstanding principal amount, with such interest to be calculated on the basis of a 360-day year comprised of twelve 30-day months. Both principal of and interest of this warrant are payable in lawful money of the United States of America of the Officer of the Controller of the City, as Paying Agent, or any appointed successor Paying Agent upon presentation on or after their maturity date. However, this shall not preclude the City from demanding presentation of the warrants and making payment thereon prior to the maturity date. This Warrant evidences a temporary loan to provide funds to retire certain previously issued tax warrants which expired December 31, 2004 the proceeds of which were used to meet current expenses of the Fund, and this Warrant has been authorized by an ordinance passed and adopted by the common Council of the City of South Bend, Indiana, on , 2004, in accordance with Indiana Code, Title 36, Article 4, Chapter 6, and all other acts amendatory thereof or supplemental thereto. This Warrant is issued in anticipation of the tax levy which has been made for the Fund in the year 2004, which tax levy is now in the course of collection, and which may not be received until 2005. There has been irrevocably appropriated and pledged to the payment in full of the principal of and interest on this Warrant a sufficient amount of the revenues to be derived from the Fund tax levy. -4-