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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44 provided for in this Indenture in the case of the Project Bonds, and in this Indenture, the applicable Bond Ordinance and the Supplemental Indenture, in the case of any issue of Additional Bonds. Section 3.03. Execution and Authentication of Bonds.Unless otherwise provided in the applicable Bond Ordinance, each Bond shall be signed by the Mayor of the Issuer and be attested to by the City Clerk of the Issuer (provided that such signatures may be facsimiles), and shall bear the seal of the Issuer or a facsimile thereof. In case any officer whose signature or a facsimile of whose signature appears on any Bond shall cease to be that officer before the issuance of the Bond, the officer’s signature or the facsimile thereof nevertheless shall be valid and sufficient for all purposes, the same as if he or she had remained in office until that time. Any Bond may be executed on behalf of the Issuer by an officer who, on the date of execution is the proper officer, although on the date of the Bond that person was not the proper officer. No Bond shall be valid or become obligatory for any purpose or shall be entitled to any security or benefit under this Indenture unless and until a certificate of authentication, substantially in the form set forth in Exhibit A or Exhibit A-1 to this Indenture, has been signed by the Trustee. The authentication by the Trustee upon any Bond shall be conclusive evidence that the Bond so authenticated has been duly authenticated and delivered hereunder and is entitled to the security and benefit of this Indenture. The certificate of the Trustee may be executed by any person authorized by the Trustee, but it shall not be necessary that the same authorized person sign the certificates of authentication on all of the Bonds. Section 3.04. Source of Payment of Bonds.To the extent provided in and except as otherwise permitted by this Indenture, (a) the Bonds shall be special and limited obligations of the Issuer and the Bond Service Charges thereon shall be payable equally and ratably solely from the Revenues, (b) the payment of Bond Service Charges on the Bonds shall be secured by the assignment of Revenues hereunder and by this Indenture, and (c) payments due on the Bonds also shall be secured by the Notes; provided, however, that payment of Bond Service Charg es on any series of Additional Bonds may be otherwise secured and protected from sources or by property or instruments not applicable to the Project Bonds and any one or more series of Additional Bonds, or not secured and protected from sources or by property or instruments applicable to the Project Bonds or one or more series of Additional Bonds. The Bonds shall not constitute a debt, liability or obligation of the City, the State or any political subdivision thereof, within the meaning of any constitutional or statutory provision or limitation, or a pledge of the faith and credit or taxing power of the City, the State or any political subdivision thereof, and shall not be payable in any manner from revenues raised by taxation. Section 3.05. Payment and Ownership of Bonds.The principal of and any premium on any Bond shall be payable when due to a Holder upon presentation and surrender of such Bond at the designated corporate trust office of the Trustee. Interest on any Bond shall be paid on each Interest Payment Date by check which the Trustee shall cause to be mailed on that date to the person in whose name the Bond (or one or more Predecessor Bonds) is registered at the close of business on the Regular Record Date applicable to that Interest Payment Date on the Regis ter at the address appearing therein; provided that interest payable at final maturity of a Bond shall be paid only upon presentation and surrender of such Bond at the designated corporate trust office of the Trustee. If and to the extent, however, that the Issuer shall fail to make payment or provision for payment of interest on any Bond on any Interest Payment Date, that interest shall cease to be