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REGISTERED OWNER: <br />PRINCIPAL SUM: <br />Dollars ($ ) <br />The City of South Bend, in St. Joseph, County, State of Indiana (the "City"), <br />for value received, hereby promises to pay to the Registered Owner set forth above, <br />solely out of the special revenue fund hereinafter referred to, the Principal Sum set <br />forth above [or so much thereof as may be advanced from time to time and be <br />outstanding as evidenced by the records of the registered owner making payment for <br />this Bond, or its assigns,] on [the Maturity Date set forth above] or [on January 1 in <br />the years and in the amounts set forth on Exhibit A attached hereto] (unless this bond <br />be subject to and be called for redemption prior to maturity as hereafter provided), <br />and to pay interest thereon until the Principal Sum shall be fully paid at the Interest <br />Rate per annum specified above from [ , 200_] or [the interest payment <br />date to which interest has been paid next preceding the Authentication Date of this <br />bond unless this bond is authenticated after the fifteenth day of the month preceding <br />the interest payment date (the "Record Date") and on or before such interest payment <br />date in which case it shall bear interest from such interest payment date, or unless this <br />bond is authenticated on or before , 2000, in which case it shall bear <br />interest from the Original Date,] which interest is payable semiannually on January <br />1 and July 1 of each year, beginning on , 200_. Interest shall be <br />calculated on the basis of a 360-day year comprised of twelve 30-day months. <br />[The principal of and premium, if any, on this bond are payable at the <br />principal office of (the "Registrar" or "Paying Agent"), in <br />,Indiana.] All payments of [principal of and] interest on this bond shall <br />be paid by [check mailed one business day prior to the interest payment date] or <br />[wire transfer for deposit to a financial institution as directed by the State of Indiana <br />on the due date or, if such due date is a day when financial institutions are not open <br />for business, on the business day immediately after such due date] to the Registered <br />Owner as of the Record Date at the address as it appears on the registration books <br />kept by [the Fiscal Officer of the City (the "Registrar and Paying Agent") in the City <br />of South Bend, Indiana] or [the Registrar] or at such other address as is provided to <br />the Paying Agent in writing by the Registered Owner. Each Registered Owner of <br />$1,000,000 or more in principal amount ofbonds shall be entitled to receive interest <br />payments by wire transfer by providing written wire instructions to the Paying Agent <br />before the Record Date for any payment. All payments of principal of, and premium, <br />if any, on this bond shall be made upon surrender thereof at the principal office of the <br />Paying Agent, in any U.S. coin or currency which on the date of such payment shall <br />be legal tender for the payment of public and private debts, or in the case of a <br />Registered Owner of $1,000,000 or more in principal amount of the Bonds (as <br />hereinafter defined), by wire transfer on the due date upon written direction of such <br />owner provided at least fifteen (15) days prior to the maturity date or redemption <br />date. <br />-10- <br />