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NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY <br />OF SOUTH BEND, INDIANA: <br />Section I. As declared in this Council's prior Ordinance 9846-08 an emergency exists <br />for the borrowing of money and the City by its Mayor is hereby authorized to make temporary <br />loans to (i) pay off and retire the previously issued temporary loan tax anticipation time warrants <br />which were' authorized, by prior Ordinance 9846-08 and which tax anticipation warrants expire <br />December 30, 2008, and (ii) meet current operating expenses of various funds of the City for which <br />the City does not expect to receive a timely distribution of property tax revenues. The Mayor is <br />further authorized to issue temporary loan tax anticipation time warrants to evidence the loans <br />required to redeem and retire the temporary loan tax anticipation time warrants issued pursuant to <br />Ordinance No. 9846-08 and meet the current expenses for the funds described in Section II herein. <br />The issuance and sale of new temporary loan tax anticipation time warrants shall conform to the <br />requirements of Indiana Code 36-4-6. <br />Section II. All temporary loan tax anticipation time warrants issued pursuant to this <br />Ordinance (the "Warrants") shall be dated as of the date of delivery. A separate Warrant or Warrants <br />shall be issued with respect to each of the funds described below for each maturity date. The City is <br />authorized to issue Warrants maturing and payable on April 2, 2009 in the principal amounts not to <br />exceed the following: <br />Principal Amount: $46,000,000 <br />Maturing: Apri12, 2009 <br />Fund: General <br />Not to Exceed: $46,000,000 <br />Principal Amount: $6,700,000 <br />Maturing: Apri12, 2009 <br />Fund: Parks and Recreation <br />Not to Exceed: $6,7000,000 <br />Principal Amount: $1,581,000 <br />Maturing: Apri12, 2009 <br />Fund: Hall of Fame <br />Not to Exceed: $1,581,000 <br />Principal Amount: $1,350,000 <br />Maturing: Apri12, 2009 <br />Funds: Police Pension <br />Not to Exceed: $1,350,000 <br />Principal Amount: $1,300,000 <br />Maturing: Apri12, 2009 <br />Fund: Fire Pension <br />Not to Exceed: $1,300,000 <br />BDDBOI 5475853v1 - 2 - <br />