Authorizing Issurance $6,000,000 Economic Development First Mortgage Revenue Bonds - South Bend Forge Inc

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consultant or agent of the Company, to give an appropriate certificate on behalf of the Issuer, for inclusion in the transcript of proceedings for the Project Bonds, setting forth the reasonable expectations of the Issuer regarding the amount and use of the proceeds of the Project Bonds and the facts and estimates on which they are based, such certificate to be premised on the reasonable expectations and the facts and estimates on which they are based as provided by the Company, all as of the date of delivery of and payment for such Project Bonds. The Clerk of the Legislative Authority, or other appropriate officer of the Issuer, shall furnish to the Original Purchasers a true transcript of proceedings, certified by said Clerk or officer, of all proceedings had with reference to the issuance of the Project Bonds along with such information for the records as is necessary to determine the regularity and validity of the issuance of said Bonds. (j) Federal Tax Election. This Legislative Authority hereby elects to have the limitation on capital expenditures specified in Section 103(b)(6) of the Internal Revenue Code of 1954 applied to the Project Bonds, and the execution and filing with the Internal Revenue Service of a statement regarding such election, as provided by the rules and regulations of the Internal Revenue Service, by the Executive, the Fiscal Officer or the Clerk of this Legislative Authority is hereby authorized, approved, ratified and affirmed. Section 12. Investment of Bond Fund and Construction Fund. Moneys in the Bond Fund and the Construction Fund shall be invested and reinvested by the Trustee in any Eligible Investments at the oral request and written confirmation of the Authorized Company Representative (as defined in the Agreement), provided that investments of moneys in the Bond Fund shall mature or be redeemable at the option of the holder at the times and in the amounts necessary to provide moneys applicable hereunder thereto to pay Bond service charges as they fall due at stated maturity or by redemption and that each investment of moneys in the Construction Fund shall in any event mature or be redeemable at the option of the holder at such time as may be necessary - 21 -