Bill No. 20-22 Amending Bond Ordinance_City of South Bend, Indiana Variable Rate Economic Development Revenue Bonds, Series 2007 (PEI_Genesis Project)

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34 Before the Trustee shall authenticate and deliver any Additional Bonds, the Trustee shall receive the following items: (a) Original executed counterparts of any amendments or supplements to the Agreement and the Indenture entered into in connection with the issuance of the Additional Bonds, which are necessary or advisable, in the opinion of Bond Counsel, to provide that the Additional Bonds will be issued in compliance with the provisions of this Indenture. (b) One or more Additional Notes, as required by the Agreement, in an aggregate principal amount equal to the aggregate principal amount of the Additional Bonds. (c) A copy of the written request from the Borrower to the Issuer for the issuance of the Additional Bonds. (d) A copy of the applicable Bond Ordinance, certified by the City Clerk of the Issuer. (e) A request and authorization to the Trustee on behalf of the Issuer, signed by the Mayor and the City Clerk of the Issuer, to authenticate and deliver the Additional Bonds to, or on the order of, the purchaser thereof upon payment to the Trustee of the amount specified therein (including without limitation, any accrued interest), which amount shall be deposited as provided in the applicable Bond Ordinance or Supplemental Indenture. (f) The written opinion of counsel, who may be counsel for the Issuer, reasonably satisfactory to the Trustee, to the effect that: (i) the documents submitted to the Trustee in connection with the request then being made comply with the requirements of this Indenture; (ii) the issuance of the Additional Bonds has been duly authorized; (iii) all filings required to be made under Section 10.01 of this Indenture have been made; and (iv) all conditions precedent to the delivery of the Additional Bonds have been fulfilled. (g) A written opinion of Bond Counsel (who also may be the counsel to which reference is made in paragraph f), to the effect that: (i) when executed for and in the name and on behalf of the Issuer and when authenticated and delivered by the Trustee, those Additional Bonds will be valid and binding special and limited obligations of the Issuer in accordance with their terms and will be secured hereunder equally and on a parity (except with respect to any moneys drawn by the Trustee under the Letter of Credit or the Confirming Letter of Credit, if any) with all other Bonds at the time outstanding hereunder as to the assignment to the Trustee of the Issuer’s right, title and interest in the Revenues, the Agreement and the Project Fund, the Bond Fund (except as to any provision made by or pursuant to Sections 4.05, 5.06 or 5.07 hereof) and the moneys and investments therein to provide for payment of Bond Service Charges on the Bonds; and (ii) the issuance of the Additional Bonds will not result in the interest on the Bonds outstanding immediately prior to that issuance becoming includable in gross income for purposes of federal income taxation.