Authorizing issuance of Economic Development Revenue Bonds, Series 1999 (Southfield Village), not to exceed $20,000,000

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interest to the date of delivery of the Bonds, if any. The Bonds shall be subject to optional redemption, extraordinary optional redemption and mandatory sinking fund redemption as set forth in the Financing Documents, provided that, for purposes of determining the terms of such optional redemption, the Bonds shall be subject to optional redemption with a premium of two percent (2%) at ten (10) years, declining thereafter to one percent (1 %) and then to redemption with no premium, it being understood that such optional redemption terms may be adjusted on the date the Bonds are sold if more favorable optional redemption terms may be secured. Section 5. Rule 15c2-12(b)(1) of the Securities Exchange Act of 1934, as amended (the "SEC Rule"), provides that, prior to the time a participating underwriter bids for, purchases, offers or sells municipal securities, the participating underwriter shall obtain and review an official statement that an issuer of such securities deems a "near final" official statement. The Preliminary Official Statement is hereby deemed final as of its date, except for the omission of no more than the following information: the offering prices}, interest rate(s), selling compensation, aggregate principal amount, principal amount per maturity, delivery dates, ratings and other terms of the securities depending on such matters. The Mayor is hereby authorized to execute the Preliminary Official Statement and an Official Statement substantially in the form of the Preliminary Official Statement with such additions or changes thereto as shall be approved by the Mayor executing the same with such execution evidencing approval of such additional changes. The Mayor, the Controller, the Clerk or any other officer of the City familiar with the matters with respect to the City set forth in the Preliminary Official Statement is hereby authorized to certifi~ to the Underwriter (as defined in the Financing Documents) that the information in the Preliminar}~ Official Statement with respect to the City is deemed to be final within the meaning of the SEC Rule prior to the distribution of the Preliminary Official Statement. Section 6. The Mayor and the Clerk are authorized and directed to execute the Loan Agreement, the Trust Indenture, the Bond Purchase Agreement, and the Bonds approved herein on behalf of the City and any other documents which may be necessary or desirable to consummate the transaction and, by their execution of such documents, may approve such further changes therein without further approval of the Commission or the Council excepting, however, such changes as must be approved by the Council and the Commission pursuant to IC 36-7-12-27. The signatures of the Mayor and the Clerk on the Bonds shall be manual or facsimile signatures. The Clerk is authorized to arrange for the delivery of the Bonds as provided in the Bond Purchase Agreement. Section 7. The Bonds shall not constitute a debt or pledge of the faith and credit of the City, the State or any political subdivision thereof, and the holders, or o~~ners thereof shall have no right to have taxes levied by the City, the State or of any political subdivision, for the payment of the principal thereof or interest thereon. Moneys raised by taxation shall not be obligated or pledged for the payment of principal of or interest on the Bonds, and the Bonds shall be payable solely from the revenues and security interests pledged for their payment as authorized by the Trust Indenture. ODMA\PCDOCS\S[3DOCS 1 \33484\6 -~ -