9470-03 Authorizing the Mayor and or Controller of South Bend to make temporary loans

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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: February 27, 2004 COUNTY OF ST. JOSEPH CITY OF SOUTH BEND, INDIANA TEMPORARY LOAN TAX ANTICIPATION TIME WARRANT ( FUND) FOR VALUE RECEIVED, on or before February 27, 2004, the City of South Bend, Indiana (the "City). shall pay to the amount of $ (or so much thereof as maybe 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. This Warrant evidences a temporary loan to provide funds to retire certain previously issued tax warrants which expired December 31, 2003 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 , 2003, 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 2003, which tax levy is now in the course of collection, and which may not be received unti12004. 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. It is further hereby certified, recited, and declared that all acts, conditions, and things required by law precedent to the issuance and execution of this Warrant have been properly done, have happened, and have been performed in the manner required by the constitution and statutes of the State of Indiana relating thereto; that the _ Fund tax levy from which (together with other amounts in the Fund) this Warrant is payable, is a valid and legal levy; and the City will reserve a sufficient amount of the proceeds of the Fund tax levy currently in the course of collection for the timely payment of the principal of and interest on this Warrant in accordance with its terms. IN WITNESS WHEREOF, the City of South Bend, in the County of St. Joseph, State of Indiana, has caused this Warrant to be executed in its corporate name by the Mayor of the City of South Bend, Indiana, countersigned by the City Controller of the City of South Bend, Indiana, and its corporate seal to be hereunto affixed and attested by the City Clerk of the City of South Bend, Indiana, all as of the day of , 2003. -4-