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9 <br />($2,570,000)], numbered consecutively from R-1 upward, issued for the purpose of providing <br />funds (a) to pay the costs of certain local public improvements located in or serving the Allocation <br />Areas that support residential housing development, (b) fund a debt service reserve fund (if <br />necessary), and (c) for the purpose of paying incidental expenses to be incurred in connection <br />therewith and on account of the sale and issuance of bonds therefor, as authorized by Resolution <br />No. _______ adopted by the South Bend Redevelopment Commission (the “Commission”) on the <br />24th day of April, 2025, entitled “A RESOLUTION OF THE SOUTH BEND <br />REDEVELOPMENT COMMISSION AUTHORIZING THE ISSUANCE OF BONDS FOR THE <br />PURPOSE OF PROVIDING FUNDS FOR THE COSTS OF CERTAIN LOCAL PUBLIC <br />IMPROVEMENTS THAT SUPPORT RESIDENTIAL HOUSING DEVELOPMENT AND <br />INCIDENTAL EXPENSES IN CONNECTION THEREWITH AND ON ACCOUNT OF THE <br />ISSUANCE OF THE BONDS” (the “Resolution”), and in accordance with the provisions of <br />Indiana law, including without limitation Indiana Code 36-7-14, Indiana Code 36-7-25 and other <br />applicable laws, as amended (collectively, the “Act”), all as more particularly described in the <br />Resolution. The owner of this bond, by the acceptance hereof, agrees to all the terms and <br />provisions contained in the Resolution and the Act. <br />THIS BOND DOES NOT CONSTITUTE AN OBLIGATION OR INDEBTEDNESS OF <br />THE DISTRICT OR THE CITY, BUT IS PAYABLE OUT OF ALLOCATED INCREMENTAL <br />TAXES ON CERTAIN PROPERTY LOCATED IN THE ALLOCATION AREAS AS SET <br />FORTH IN THE RESOLUTION AND DEPOSITED INTO THE RESPECTIVE ALLOCATION <br />FUNDS ESTABLISHED BY THE DISTRICT FOR SUCH ALLOCATION AREAS (THE “TAX <br />INCREMENT”), AS DESCRIBED IN THE RESOLUTION. NEITHER THE FULL FAITH <br />AND CREDIT NOR THE TAXING POWER OF THE CITY NOR THE DISTRICT IS <br />PLEDGED TO THE PAYMENT OF THE PRINCIPAL OF OR INTEREST ON THE BONDS. <br /> [The bonds of this issue are redeemable at the option of the Commission on any date, on <br />sixty (60) days’ notice, in whole or in part, in [any order of maturities selected by the <br />Commission][inverse order of maturity] and by lot within a maturity, at 100% of face value plus <br />accrued interest to the date fixed for redemption; provided, however, if the Bonds are sold to the <br />Indiana Finance Authority through its IFA Program and registered in the name of the Indiana <br />Finance Authority, the Bond shall not be redeemable at the option of the Commission unless and <br />until consented to by the Indiana Finance Authority. Each minimum authorized denomination in <br />principal amount shall be considered a separate bond for purposes of partial redemption.] <br />[The bonds of this issue maturing on _________, 20__, are subject to mandatory sinking <br />fund redemption by lot on the dates and in the principal amounts shown below, plus accrued <br />interest with without premium: <br />Date Principal Amount <br />* <br />* Final Maturity] <br />Notice of such redemption shall be mailed by first-class mail not more than sixty-five (65)