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

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depository by 2:30 p.m. (New York City time).] All payments on this bond shall be made in any coin or currency of the United States of America which, on the dates of such payment, shall be legal tender for the payment of public and private debts. This Bond shall not constitute an indebtedness of the City within the meaning of the provisions and limitations of the Constitution of the State, and the City shall not be obligated to pay this Bond or the interest hereon except from the special fund provided from the Net Revenues herein defined as the gross revenues of the System (herein defined as the City's waterworks system, including all real estate, equipment and appurtenances thereto used in connection therewith, and all extensions, additions and improvements thereto and replacements thereof, now or at any time hereafter constructed or acquired) inclusive of System Development Charges (as defined in the Ordinance) remaining after the payment of the reasonable expense of[Operation and Maintenance as defined in the Financial Assistance Agreement] OR [operation, repair and maintenance] of the System). Reference is hereby made to the Financial Assistance Agreement ("Financial Assistance Agreement") between the City and the Authority concerning certain terms and covenants pertaining to the Waterworks project and the purchase of this Bond as part of the drinking water loan program established and existing pursuant to IC 5-1.2-1 through IC 5-1.2-4 and IC 5-1.2-10.] This bond is one of an authorized issue of bonds of the City issued in series of like tenor and effect, except as to numbering, interest rate, and date of maturity, in the total amount of Dollars($ numbered consecutively from R-1 up; issued for the purpose of providing funds to pay the cost of certain additions,extensions and improvements to the municipally owned waterworks system of the City, [to refund interim notes issued in anticipation of the bonds,] to fund a debt service reserve fund, and to pay issuance expenses. This bond is issued pursuant to an ordinance adopted by the Common Council of the City on the _ day of 2023, entitled "AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AUTHORIZING THE ACQUISITION AND CONSTRUCTION OF CERTAIN ADDITIONS AND IMPROVEMENTS TO THE MUNICIPAL WATERWORKS OF THE CITY OF SOUTH BEND, INDIANA; AUTHORIZING THE ISSUANCE OF REVENUE BONDS FOR SUCH PURPOSE IN THE PRINCIPAL AMOUNT NOT TO EXCEED FORTY-SEVEN MILLION SEVEN HUNDRED NINETY-ONE THOUSAND DOLLARS ($47,791,000) TO PROVIDE FUNDS FOR THE PAYMENT OF THE COSTS THEREOF; ADDRESSING OTHER MATTERS CONNECTED THEREWITH, INCLUDING THE ISSUANCE OF NOTES IN ANTICIPATION OF BONDS; AND REPEALING ORDINANCES INCONSISTENT HEREWITH" ("Ordinance"), and in accordance with the provisions of Indiana law, including without limitation Indiana Code 8-1.5 as in effect on the date of delivery of the bonds of this issue("Act"). Capitalized terms not otherwise defined herein have the same meanings as ascribed to them in the Ordinance. Pursuant to the provisions of the Act and the Ordinance, the principal of and interest on this bond and all other bonds of said issue,the Prior Bonds(as defined in the Ordinance)[including the Waterworks Revenue Bonds of Series Series Bonds")] and any bonds hereafter issued on a parity therewith are payable solely from the Waterworks Sinking Fund continued by the Ordinance ("Sinking Fund") to be provided from the Net Revenues (defined as gross revenues after deduction only for the payment of the reasonable expenses of operation,repair and maintenance and which reasonable expenses of operation,repair and maintenance specifically 13 -