Authorizing the Issuance and Sale of Bonds Said City in Order to Provide Funds for Various Purposes

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INTEREST COUPON Coupon No. W On , 19 , the City of South Bend, Indiana will pay to bearer, at the option of the holder, at the First Bank and Trust Company of South Bend, in South Bend, Indiana, the amount shown hereon, in lawful money of the United States of America, being the interest then due on its Municipal Bond of 1981, dated 1981, No. CITY OF SOUTH BEND By (facsimile) Mayor (facsimile) City 'Controller SECTION 4. As soon as can be done after the passage of this ordinance, the City Clerk shall give notice of the filing of the petition for and determination to issue bonds. Said notice shall be published once each week for two (2) weeks in the South Bend Tribune and the Tri- County News, newspapers of general circulation published in the City of South Bend, and said notice shall also be posted in three (3) public places in the City, as provided by I.C. 6- 1.1 -20 -4 and I.C. 6- 1.1 -20 -5. Said bonds shall not be advertised for sale prior to the expiration of the period during which taxpayers may file remonstrances or objecting petitions to the issuance of said bonds. In the event a remonstrance shall be filed by the owners of taxable real estate under the provisions of I.C. 6- 1.1 -20 -4, then no further steps toward the issuance of said bonds shall be taken unless and until the Common Council shall have determined that such remonstrance is insufficient. In the event an objecting petition or petitions are filed by taxpayers under the provisions of I.C. 6- 1.1 -20 -5, then no further steps towards the issuance of said bonds shall be taken unless and until the State Board of Tax Commissioners shall issue its order approving the issuance of said bonds. In the event it shall be determined by the State Board of Tax Commissioners, or otherwise, that the whole amount of the bonds herein authorized shall not be issued, then the City Controller shall be authorized to advertise and sell a lesser amount of bonds, and the bonds not issued and sold shall be the bonds of the longest maturity or maturities. SECTION 5. Prior to the sale of said bonds, the City Controller shall cause to be published a notice of such sale once each week for two (2) weeks in the South Bend Tribune and the Tri- County News, and one (1) time in the Indianapolis Commercial. In the discretion of the City Controller, a summary notice may be published in The Bond Buyer, a financial journal published in the City and State of New York. The date fixed for the sale shall not be earlier than seven (7) days after the last of said publications. Said bond sale notice shall state the time and place of sale, the purpose for which the bonds are being issued, the total amount thereof, the maximum rate of interest thereon, the time and place of payment, the terms and conditions on which bids will be received and the sale made, and such other information as the City Controller shall deem necessary. All bids for said bonds shall be sealed and shall be presented to the City Controller at his office, and said Controller shall continue to receive all bids offered until the hour named on the date fixed in the bond sale notice, at which time and place he -4-