Authorizing Issuance and Sale of Bonds to refund Outstanding Refunding Revenue Bonds of 1993

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V is hereby authorized to enter into such agreements or understandings with any institution serving as Registrar and Paying Agent as will enable the institution to perform the services required of the Registrar and Paying Agent. The Controller is authorized to pay such fees as the institution may charge for the services it provides as Registrar and Paying Agent, and such fees may be paid as fiscal agency charges from the Sinking Fund described herein to pay the principal of and interest on the 2001 Bonds. The Registrar and Paying Agent may at any time resign as Registrar and Paying Agent by giving thirty (30) days written notice to the City and by first-class mail to each registered owner of the 2001 Bonds then outstanding, and such resignation will take effect at the end of such thirty (30) days or upon the earlier appointment of a successor Registrar and Paying Agent by the City. Such notice to the City maybe served personally or be sent by registered mail. The Registrar and Paying Agent may be removed at any time as Registrar and Paying Agent by the City, in which event the City~may appoint a successor Registrar and Paying Agent. The City shall notify each registered owner of the 2001 Bonds then outstanding by first-class mail of the removal of the Registrar and Paying Agent. Notices to registered owners of the 2001 Bonds shall be deemed to be given when mailed by first-class mail to the addresses of such registered owners as they appear on the bond register. Any predecessor Registrar and Paying Agent shall deliver all the 2001 Bonds and cash in its possession and the bond register to the successor Registrar and Paying Agent. At all times, the same entity shall serve as Registrar and as Paying Agent. SECTION 5. Form of Bonds. The form and tenor of the 2001 Bonds, shall be substantially as set forth in Exhibit B, with all blanks to be filled in properly prior to delivery thereof. SECTION 6. Sale of Bonds. The Controller is hereby authorized and directed to have the 2001 Bonds prepared, and the Mayor, Controller and the Clerk are hereby authorized and directed to execute the 2001 Bonds in substantially the form and the manner herein provided. The Controller is hereby authorized and directed to deliver the 2001 Bonds to the Treasurer of St. Joseph County, ex officio Treasurer of the City of South Bend, and shall take his receipt therefor, and upon the consummation of the sale of the 2001 Bonds the Controller shall certify to the Treasurer the amount which the purchaser is to pay for the same together with the name and address of the purchaser; thereupon, the Treasurer shall be authorized to receive from the purchaser the amount so certified from the Controller and to deliver the 2001 Bonds to the purchaser and take the purchaser's receipt for the 2001 Bonds. The amount to be certified by the Controller and collected by the Treasurer shall be the full amount which the purchaser has agreed to pay therefor, which shall be not less than 99% of the face value of the 2001 Bonds (exclusive of original issue discount) plus accrued interest to the date of delivery. If the Treasurer is not available, then the Controller shall deliver the 2001 Bonds to the purchaser and deliver the proceeds to the Treasurer. The Mayor is authorized to enter into a bond purchase agreement in customary form with the Underwriter, as bond purchaser, on behalf of the City. The entry by the City into the purchase contract and the execution of the purchase contract on behalf of the City by the Mayor in accordance with this Ordinance are hereby authorized and approved. -5-