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t T Not-Qualified Tax-Exempt Obligations The Bonds will not'be designated "qualified tax-exempt obligations" for purposes of Sec#ion 265(b)(3) of the Internal Revenue Code of 1986 relating to the ability of financial institutions to deduct from income for federal income tax purposes, interest expense that is allocable to carrying and acquiring tax-exempt obligations. Certification As of the date of the settlement of the Bonds, the Purchaser will be furnished with a Certificate signed by the appropriate officers of the Authority. The Certificate will state that as of the date of the Official Statement, it did not and does not as of the date of the Certificate contain any untrue statements of material fact or omit to state a material fact necessary in order to make the statements made therein, in light of circumstances under which they were made, not misleading. STATISTICAL DATA TI-~ DISTRICT: REDEVELOPMENT SPECIAL TAXING DISTRICT 1987 (Payable 1988) Taxable Assessed Value: $434,054,735 The boundaries of the Redevelopment Special Taxing District are coterminous with the City of South Bend and, therefore, the taxable assessed value is the same for both (see City of South Bend data). Indebtedness of the District Legal Debt Limit (29'0 of Taxable Assessed Value) Less: Outstanding Debt. Net Debt Margin Direct General Obligation Debt of the District Year of Original -Issue Amount $8,681,095 600,000 $8,081,095 Final Maturity Principal Outstanding As of 7-2-88 1972 $3, 800, 000 Principal payable each Jan. I 1991 $600, 000 Interest payable Jan. I and July Revenue Debt of the District (Not Supported By Taxes) Principal Year of Original Final Outstanding Issue Amount Type of Issue Maturity As of 7-2-88 1985 $4,200,000 Taxlncrement Revenue Bonds 2003 $4,200,000 1986 $ I , 750, 000 Tax Increment Revenue Bonds 2004 $ I , 750, 000 1988 $ I , 800, 000 Tax Increment Revenue Bonds 2005 $ I , 800, 000