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the date of such payment shall be legal tender for the payment of public and private <br /> debts, or in the case of a Registered Owner of$1,000,000 or more in principal amount of <br /> the Bonds (as hereinafter defined), by wire transfer on the due date upon written direction <br /> of such owner provided at least fifteen (15) days prior to the maturity date or redemption <br /> date. <br /> THE CITY SHALL NOT BE OBLIGATED TO PAY THIS BOND OR THE <br /> INTEREST HEREON EXCEPT FROM THE HEREINAFTER DESCRIBED SPECIAL <br /> FUND, AND NEITHER THIS BOND NOR THE ISSUE OF WHICH IT IS A PART <br /> SHALL IN ANY RESPECT CONSTITUTE A CORPORATE INDEBTEDNESS OF <br /> THE CITY WITHIN THE PROVISIONS AND LIMITATIONS OF THE <br /> CONSTITUTION OF THE STATE OF INDIANA. <br /> It is hereby certified and recited that all acts, conditions and things required to be <br /> done precedent to and in the execution, issuance and delivery of this bond have been <br /> done and performed in regular and due form as provided by law. <br /> This bond shall not be valid or become obligatory for any purpose until the <br /> certificate of authentication hereon shall have been executed by an authorized <br /> representative of the Registrar. <br /> This bond is one of an authorized issue of bonds of the City of South Bend, <br /> Indiana, of like date, tenor and effect, except as to denomination, numbering, rates of <br /> interest, redemption terms and dates of maturity, aggregating <br /> Dollars ($ ), numbered <br /> consecutively from 1 upward (the "Bonds"), issued for the purpose of providing funds to <br /> be applied to the cost of currently refunding outstanding City of South Bend, Indiana <br /> Waterworks Revenue Bonds of 2002 (the "Refunding"), to refund interim notes issued in <br /> anticipation of the Bonds, if any, to fund a debt service reserve, and to pay incidental <br /> expenses and costs of issuance of the Bonds. This bond is issued pursuant to an <br /> ordinance adopted by the Common Council of said City on the day of <br /> 2012, entitled "An Ordinance of the Common Council of the City of South Bend, <br /> Indiana, Concerning the Current Refunding of Outstanding Waterworks Revenue Bonds <br /> of 2002, Issued to Finance Construction of Improvements to the Municipal Waterworks <br /> of the City of South Bend, Indiana; Authorizing the Issuance of Revenue Bonds for such <br /> Purpose in the Principal Amount not to exceed Four Million Two Hundred Thousand <br /> ($4,200,000); Addressing Other Matters Connected Therewith, Including the Issuance of <br /> Notes in Anticipation of Bonds; and Repealing Ordinances Inconsistent Herewith" (the <br /> "Ordinance"), and in accordance with the provisions of Indiana law, including without <br /> limitation Indiana Code 8-1.5, and other applicable laws, as amended (the "Act"), all as <br /> more particularly described in the Ordinance. The owner of this bond, by the acceptance <br /> hereof, agrees to all the terms and provisions contained in the Ordinance and the Act. <br /> Pursuant to the provisions of the Act and the Ordinance, the principal of and <br /> interest on this bond and all other bonds of said issue, the Prior Bonds (as hereinafter <br /> defined), and any bonds hereafter issued on a parity therewith are payable solely from the <br /> Sinking Fund (the "Sinking Fund") maintained under the Ordinance to be provided from <br /> - 11 - <br />