9846-08 Authorizing the Mayor and Controller to make temporary loans to meet current operating expensesof various funds

Home Browse Search

and the respective principal amounts of the Warrants to be prepaid; (iv) that on the date of prepayment, the prepayment price will become due and payable upon each such Warrant or portion thereof called for prepayment, and that interest thereon shall cease to accrue from and after said date; and (v) the place where such Warrants are to be surrendered for payment of the prepayment price, which place of payment shall be the place provided for the payment of the principal of the Warrants. Section VI. The 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 Warrants shall be manual. All 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] UNTfED STATES OF AMERICA STATE OF INDIANA Due Date: December , 2008 CITY OF SOUTH BEND, INDIANA TEMPORARY LOAN TAX ANTICIPATION TIME WARRANT ( FUND) FOR VALUE RECEIVED, on or before December , 2008, 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 on 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 Office 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 meet current expenses of the Fund, and has been authorized by an ordinance passed and adopted by the Common Council of the City of South Bend, Indiana, on 2008, in accordance with Indiana Code, Title 36, Article 4, Chapter 6, and all other acts amendatory thereof or supplemental thereto. COUNTY OF ST. JOSEPH BDDBOI 5241543v1 - 4 -