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WHEREAS, notice has been given and this date a public hearing has been conducted regarding such appropriation, as required by Indiana law; and WHEREAS, all conditions precedent to the adoption of a resolution authorizing the issuance of the 2014 Bonds have been complied with in accordance with the applicable provisions of the Act. NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT COMMISSION, GOVERNING BODY OF THE DISTRICT, AS FOLLOWS: SECTION 1. Authorization for Bonds. In order to provide financing for the Refunding as described above and the costs of selling and issuing the 2014 Bonds, the District shall borrow money, and the City, acting for and on behalf of the District, shall issue the 2014 Bonds as herein authorized. SECTION 2. Appropriation of Bond Proceeds. The Commission hereby appropriates a sum not to exceed Three Million Seven Hundred Thousand Dollars ($3,700,000), out of the proceeds of the 2014 Bonds, together with an estimated Fifty Thousand Dollars ($50,000) in investment earnings thereon, for the use of the Commission in paying the costs of the Refunding. Such appropriation shall be in addition to all appropriations provided for in the existing budget and levy, and shall continue in effect until the completion of the Refunding. Any surplus of such proceeds shall be credited to the proper fund as provided by law. All actions previously taken in connection with such appropriation, including publication of the notice of the public hearing,be, and hereby are, ratified and approved. A certified copy of this resolution, together with such other proceedings and actions as may be necessary, shall be filed by the Controller of the City (the "Controller"), along with a report of the appropriation, with the Indiana Department of Local Government Finance. SECTION 3. General Terms of Bonds. (a) Issuance of 2014 Bonds. In order to procure said loan for such purposes, the Commission hereby authorizes the issuance of the 2014 Bonds, in one or more series, as described herein. The Controller is hereby authorized and directed to have prepared and to issue and sell the 2014 Bonds as negotiable, fully registered bonds of the District in an amount not to exceed the Authorized Amount. The 2014 Bonds shall be signed in the name of the City, acting for and on behalf of the District, by the manual or facsimile signature of the Mayor or Deputy Mayor of the City (the "Mayor") and attested by the manual or facsimile signature of the Controller, who shall affix the seal of the City to each of the 2014 Bonds manually or shall have the seal imprinted or impressed thereon by facsimile or other means. In case any officer whose signature or facsimile signature appears on the 2014 Bonds shall cease to be such officer before the delivery of 2014 Bonds, such signature shall nevertheless be valid and sufficient for all purposes as if such officer had remained in office until delivery thereof. The 2014 Bonds also shall be, and will not be valid or become obligatory for any purpose or entitled to any benefit under this resolution unless and until, authenticated by the manual signature of the Registrar(as defined in Section 5 hereof). 2