NOTICE OF PUBLIC HEARING CONCERNING APPROPRIATION OF PROCEEDS

(INCLUDING INVESTMENT EARNINGS THEREON) OF THE TOWN OF PORTER

REDEVELOPMENT DISTRICT REVENUE BONDS RELATING TO THE PORTER ECONOMIC DEVELOPMENT AREA

The taxpayers of the Redevelopment District of the Town of Porter, Indiana (the "District"), which District is a special taxing district in the Town of Porter, Indiana, are hereby notified that the Town of Porter Redevelopment Commission (the "Commission") will, on July 27, 2010, consider a Resolution determining to issue two series of bonds of the District: (a) with one series to be issued in an aggregate principal amount not to exceed Four Million One Hundred Thousand Dollars ($4,100,000), payable solely from taxes on real property located in the allocation area (the "Allocation Area") relating to the Porter Economic Development Area (the "Area") allocated and deposited in the allocation fund for the Allocation Area (the "Allocation Fund") pursuant to Indiana Code 36-7-14-39 and proceeds from the sale or leasing of property in the Allocation Area under Indiana Code 36-7-14-22 deposited in the Allocation Fund as required by Indiana Code 36-7-14-26, and (b) with one series to be issued in an aggregate principal amount not to exceed One Million Dollars ($1,000,000), payable from Porter County Economic Development Income Tax Revenues pledged by the Town of Porter to the Commission. The bonds are being issued for the purpose of raising money to pay for the cost of certain property acquisition, redevelopment and economic development in or serving the Area (including, in particular, the construction, renovation, installation, and rehabilitation of sewer improvements located in the District), together with a sum sufficient to pay the estimated cost of all expenses reasonably incurred in connection with the acquisition, redevelopment and economic development of the property in or serving the Area as provided in Indiana Code 36-7-14, as amended (the "Act"), capitalized interest as permitted by the Act, and a debt service reserve for the bonds to the extent that the Commission determines that a reserve is reasonably required, and together with the expenses in connection with or on account of the issuance of the bonds therefor. The boundaries of the Area are shown on a map that is available for public inspection during normal business hours in the office of the Town of Porter Clerk-Treasurer, located at the Porter Town Hall, 303 Franklin Street, Porter, Indiana.

Taxpayers of the District are further notified that the Commission will hold a public hearing at 6:00 p.m. (local time) on Tuesday, July 27, 2010, at the Porter Town Hall, located at 303 Franklin Street, Porter, Indiana, on the matter of appropriating the proceeds of said bonds (including investment earnings thereon) authorized by the Commission.

Said appropriation is in addition to all appropriations provided for in the regular budget and tax levy. Funds to cover said appropriation are to be provided from the proceeds of said bonds (including investment earnings thereon) heretofore described.

At said public hearing, all persons shall have the right to appear and be heard on the necessity of said appropriation.

Dated: July 16, 2010.

TOWN OF PORTER

REDEVELOPMENT COMMISSION

(July 16, 2010)