Resolution No. 222 (Lease Rental Revenue Bonds Series 2026) - Signed

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NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT AUTHORITY, AS FOLLOWS: SECTION I. In order to pay and finance the costs of the Projects, funding a reserve fund or paying the cost of a reserve surety, if necessary, and the costs of issuing the Bonds, the Authority shall borrow an amount not to exceed Thirty -Three Million Dollars ($33,000,000) through the issuance and sale of its Bonds. The maximum interest rate on any tax-exempt series of the Bonds shall not exceed six and one-half percent (6.50%) per annum and on any taxable series of the Bonds the maximum interest rate shall not exceed eight percent (8.00%) per annum. The Bonds shall mature on February 1 and August 1 of each year, beginning not earlier than February 1, 2027, with a maximum term of not to exceed fifteen (15) years, as finally set forth in the Indenture (as defined herein) at the time of the execution and delivery of the Bonds to the purchaser or purchasers thereof. Interest on the Bonds shall be payable semiannually on February 1 and August I of each year beginning not earlier than February 1, 2027. SECTION 2. The Bonds shall be subject to optional redemption by the Authority prior to maturity on any date no sooner than five (5) years after the date of issuance of the Bonds, on thirty days' notice, in whole or in part, in order of maturity as determined by the Authority, and by lot within a maturity, at face value plus accrued interest to the date fixed for redemption. The Bonds may be subject to mandatory sinking fund redemption if so determined by the winning bidder for the Bonds. The final redemption terms shall be as set forth in the Indenture at the time of the execution and delivery of the Bonds to the purchaser or purchasers thereof. SECTION 3. The Authority hereby appoints Regions Bank to serve as trustee (the "Trustee") for the Bonds to be issued by the Authority. The Trustee shall be charged with and shall by the Indenture undertake the duties and responsibilities customarily associated with such position, as evidenced by the Indenture. SECTION 4. The Bonds shall be issued in accordance with and shall be secured by a Trust Indenture to be dated as of the first day of the month in which the Bonds are issued (the "Indenture"), between the Authority and the Trustee, and the President and/or Vice President and/or the Secretary -Treasurer of the Authority are hereby authorized to approve and execute the form of the Indenture containing provisions necessary or appropriate to effectuate these resolutions and to consummate the sale and issuance of the Bonds, said officers' execution and attestation thereof to be conclusive evidence of their approval of such Indenture. Upon its execution, the Secretary -Treasurer is authorized and directed to place a copy of the Indenture in the minute book immediately following the minutes of this meeting and said Indenture is made a part of this Resolution as if the same were fully set forth herein. SECTION 5. The Authority hereby directs Baker Tilly Municipal Advisors, LLC, as municipal advisor to the Authority (the "Municipal Advisor") to prepare an Official Statement for the Bonds (or each series thereof) for distribution to potential bidders on the Bonds (or each series thereof). The President or any other officer of the Authority is hereby authorized to approve the Official Statement and the President or any other officer of the Authority is hereby authorized to deem and determine the Preliminary Official Statement as the Near Final Official Statement with respect to the Bonds (or each series thereof) for purposes of SEC Rule 15c2-12 (the "Rule"), subject to completion in accordance with such Rule and in the manner acceptable to such officer of the Authority, and to place the Preliminary Official Statement into final form as the Final Official Statement (the "Final Official Statement"). The President or any other officer of the V