Bill No. 49-23 Revenue Bonds Authorizing the Acquisition & Construction of the Municipal Waterworks

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No. R- UNITED STATES OF AMERICA STATE OF INDIANA COUNTY OF ST. JOSEPH CITY OF SOUTH BEND WATERWORKS REVENUE BOND, SERIES Interest Maturity Original Authentication Rate Date Date Date CUSIP1 REGISTERED OWNER: PRINCIPAL SUM: The City of South Bend, in St.Joseph County,State of Indiana("City"), for value received, hereby promises to pay to the Registered Owner named above or registered assigns, solely out of the special revenue fund hereinafter referred to, the Principal Sum set forth above, [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 bond,or its assigns,] on the [Maturity Date set forth above] OR [ in the years and in the amounts as set forth on Schedule A attached hereto] (unless this bond be subject to and be called for redemption prior to maturity as hereinafter provided), and to pay interest hereon until the Principal Sum shall be fully paid at the rate per annum stated above from the interest payment date to which interest has been paid next preceding the Authentication Date of this bond unless this bond is authenticated after the fifteenth day of the month preceding an interest payment date and on or before such interest payment date, in which case it shall bear interest from such interest payment date, or unless this bond is authenticated on or before 20_, in which case it shall bear interest from the Original Date,which interest is payable semiannually on the first days of January and July in each year,beginning on 1,20_. Interest shall be calculated according to a 360-day calendar year containing twelve 30-day months. The principal of and premium, if any, on this 202_Bond is payable at the principal Office of the"Registrar"or the"Paying Agent"), in the of Indiana.] [Principal and] Interest on this 202_ Bond shall be paid by check mailed OR [wire transfer for deposit to a financial institution as directed by the Indiana Finance Authority (the Authority") on the due date or, if such due date is a day when financial institutions are not open for business, on the business day immediately after such due date] one (1) business day prior to the interest payment date to the Registered Owner hereof,as of the fifteenth(15` h) day of the month preceding such payment,at the address as it appears on the registration books kept by the Registrar or at such other address as is provided to the Paying Agent in writing by the registered owner. [If payment of principal or interest is made to a depository, payment shall be made by wire transfer on the payment date in same-day funds. If the payment date occurs on a date when financial institutions are not open for business, the wire transfer shall be made on the next succeeding business day. The Paying Agent shall wire transfer payments so such payments are received at the 12 -