Authorizing the issuance and sale of an aggregate principal amount not to exceed one million five hundred thousand dollars ($1,500,000), Indiana variable rate Economic Development

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statement relating to the City and finalizing such document in the form of a final official statement, all in accord with applicable laws. The Executive and Clerk may, by their execution of the documents requiring their signatures or imprinting of their facsimile signatures thereon, approve changes therein and also in those documents which do not require the signature of the Executive and/or Clerk without further approval of this Council if such changes do not affect terms set forth in Indiana Code Title 36, Article 7, Chapter 12, Section 27(a)(1) through (a)(10). SECTION 10. No Personal L.iabilit~. No stipulation, obligation or agreement herein contained or contained in the Indenture, the Loan Agreement, the Bonds or in any other agreement or document executed on behalf of the City shall be deemed to be a stipulation, obligation or agreement of any member of the Council, or any officer, agent or employee of the City in his or her individual capacity, and no such member of the Council, officer, agent or employee shall be personally liable on the Bonds or be subject to personal liability or accountability by reason of the issuance thereof. SECTION 11. Action pDroved and Confirmed. All acts of the officers of the City which are in conformity with the purpose and intent of this Ordinance and in the furtherance of the issuance of the Bonds and the execution, delivery and performance of the documents and agreements authorized hereby aze in all respects ratified, approved and confirmed. SECTION 12. Seve~. If any provision of this Ordinance shall be held or deemed to be illegal, inoperative or unenforceable, the same shall not affect any other provision or cause any other provision to be invalid, inoperative or unenforceable to any extent whatsoever. SECTION 13. No Conflict. Any ordinances, resolutions or orders or parts thereof in conflict with this Ordinance are to the extent of such conflict hereby repealed. SECTION 14. Effective Date. This Ordinance shall be in full force and effect from and after its passage and compliance with Indiana law. PASSED AND ADOPTED by the Common Council of the City of South Bend, Indiana this 24th day of August, 1998. COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA By. ~ - / Member of the Common Council SBDS02 PXF 1487'26 1st READING D' ~Q'~U PU~L!C HcARWG ~'.2 ~~~~~ 3 rd REA.D:PdG ~j ~,z ~~~ ' j NOT APPROVED RE ER!;ED PASSED ~r2 y,. ~ f -4- J U L 2 9 5~9 LCi ! TT'C~ J. GU~7:'a CPfl'CL~~raa, w9. ~"t;D, I'~.