9417-03 Authorizing the Mayor / and or Controller to make Temporary loans to meet current operating expenses of various funds, levied in 2002 and payable in 2003.

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interest and all necessary costs incurred in connection with the issuance and sale of the Warrants, a sufficient amount of the tax revenues, levied in 2002, and payable in 2003, for such Fund and in anticipation of which the Warrants have been issued, for the punctual payment of the principal of and interest on the Warrants evidencing such temporary loans, together with such issuance costs, if any. Section IV. The City Controller, on behalf of the City, is authorized to sell the Warrants via negotiated sale at a price not less than the par value thereof to a purchaser or purchasers (the "Purchaser") in the denomination of One Hundred Thousand Dollars ($100,000), and any integral multiple of One Dollar ($1.00) in excess of One Hundred Thousand Dollars ($100,000) of single maturities. The Warrants shall be sold to the Purchaser pursuant to the purchase agreement (the "Warrant Purchase Agreement") between the City and the Purchaser, hereby authorized to be entered into and executed by the City Controller, on behalf of the City, subsequent to the date of the adoption of this Ordinance in accordance with the terms and conditions of this Ordinance, and with such Warrant Purchase Agreement to set forth the definitive terms and conditions of such sale, including the interest rate or rates on the Warrants, which shall not exceed the maximum authorized rate of interest for the Warrants issued pursuant to this Ordinance. The Warrants sold to the Purchaser shall be accompanied by all documentation required pursuant to the provisions of Indiana law and the Warrant Purchase Agreement, including without limitation an approving opinion of nationally recognized bond counsel, certification and guarantee of signatures and certification as to no litigation pending, as of the date of delivery of the Warrants to the Purchaser ,challenging the validity or issuance of the Warrants and certification from the Purchaser that it is a "sophisticated investor". The entry by the City into the Warrant Purchase Agreement and the execution of the Warrant Purchase Agreement on behalf of the City by the City Controller, in accordance with the Ordinance, are hereby authorized, approved and ratified. Section V. 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 VI. 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] UNITED STATES OF AMERICA STATE OF INDIANA COUNTY OF ST. JOSEPH Due Date: December 31, 2003 CITY OF SOUTH BEND, INDIANA TEMPORARY LOAN TAX ANTICIPATION TIME WARRANT ( FUND) FOR VALUE RECEIVED, on or before December 31, 2003, 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.