Approving Issuance of Bonds of the South Bend Redevelopment District

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2. The City will file an information report on Form 8038 -G with the Internal Revenue Service as required by Section 149 of the Code. 3. The Commission and the City will not make any investment or do any other act or thing during the period that any 2014 Bond is outstanding hereunder which would cause any 2014 Bond to be an "arbitrage bond" within the meaning of Section 148 of the Code and the regulations thereunder as applicable to the 2014 Bonds. Notwithstanding any other provisions of this resolution, the foregoing covenants and authorizations (the "Tax Sections ") which are designed to preserve the exclusion of interest on the 2014 Bonds from gross income under federal income tax law (the "Tax Exemption ") need not be complied with to the extent the City receives an opinion of nationally recognized bond counsel that compliance with such Tax Section is unnecessary to preserve the Tax Exemption. SECTION 14. Other Action. The Mayor and the Controller of the City or any officer of the Commission may take such other actions or deliver such other certificates and documents needed for the Refunding or the financing, including one or more Credit Facility Agreements, as they deem necessary or desirable in connection therewith. SECTION 15. No Conflict. All resolutions and orders or parts thereof in conflict with the provisions of this resolution are to the extent of such conflict hereby repealed. After the issuance of the 2014 Bonds and so long as any of the 2014 Bonds or interest or premium, if any, thereon remains unpaid, except as expressly provided herein, this resolution shall not be repealed or amended in any respect which will adversely affect the rights of the holders of the 2014 Bonds, nor shall the Commission adopt any law or resolution which in any way adversely affects the rights of such holders. SECTION 16. Severability. If any section, paragraph or provision of this resolution shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or provision shall not affect any of the remaining provisions of this resolution. SECTION 17. Non - Business Days. If the date of making any payment or the last date for performance of any act or the exercising of any right, as provided in this resolution, shall be a legal holiday or a day on which banking institutions in the City or the jurisdiction in which the Registrar or Paying Agent is located are typically closed, such payment may be made or act performed or right exercised on the next succeeding day not a legal holiday or a day on which such banking institutions are typically closed, with the same force and effect as if done on the nominal date provided in this resolution, and no interest shall accrue for the period after such nominal date. SECTION 18. Interpretation. Unless the context or law clearly requires otherwise, references herein to statutes or other laws include the same as modified, supplemented or superseded from time to time. SECTION 19. Effectiveness. This resolution shall be in full force and effect from and after its passage. lu