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<br />( <br />I <br /> <br />$ubject to division (C) of Section 133.22, Ohio <br />Revised Code; <br /> <br />(C) redemption or prepayment provision$ of the Notes <br />in whole or in part prior to maturity; and <br /> <br />(D) the levy of the Levy during the years the Notes <br />are outstanding as provided in Section 2 of this <br />Ordinance. <br /> <br />(iii) <br /> <br />Any other provisions deemed advisable by the Legislative <br />Authority not inconsistent with the rights of Holders of <br />outstanding Bonds and Notes under this Ordinance and the <br />applicable Series Legislation. <br /> <br />Each Series Legislation shall state that it is passed pursuant to <br />thi$ General Bond Legislation. <br /> <br />Section 4. Terms and provisions of Bonds and Notes. <br /> <br />(a) Generallv. All Bonds shall be designated "Sanitary Sewer <br />System Special obligation Bonds" and Bonds of each series shall, in addition, <br />bear a series designation to distinguish them from other series of Bonds (such <br />as 1991 SerieS). Bonds shall express on their faces the purpose for which issued <br />consistent with subsection (b) of this Section, that they are issued pursuant to <br />this General Bond Legislation and the applicable Series Legislation and shall <br />bear such other statements or legends as may be required by law or by this <br />General Bond Legislation and the applicable Series Legislation. All Bonds shall <br />be negotiable instruments, subject to applicable provisions for registration. <br /> <br />The Bonds (i) shall be issued only in fully registered form, as more <br />fully described in Section 5 hereof; (ii) shall be issued in an aggregate <br />principal amount not to exceed the amount provided for in the Series Legislation, <br />which principal amount of the Bonds, if competitively bid, may be determined in <br />an Invitation for Bids authorized in the Series Legislation (the "Invitation for <br />Bids") and set forth in the Certificate of Award, or if not competitively bid as <br />determined and set forth in the Certificate of Award; (iii) shall be exchangeable <br />for Bonds of authorized denominations, (iv) shall be numbered in such <br />denominations as determined by the Fiscal Officer; (v) shall be in the <br />denominations of $5,000 and any integral multiple thereof but not to exceed the <br />principal amount of Bonds maturing on anyone date; (vi) shall be subject to <br />mandatory redemption, pursuant to mandatory sinking fund redemption requirements <br />at a redemption price of 100% of the principal amount redeemed plus interest <br />accrued to the redemption date, in the amount and at the times as shall be <br />provided for in the Series Legislation which amount and times may be determined <br />in the Invitation for Bids and set forth in the certificate of Award, provided, <br />however, that the aggregate Bond Service Charges payable in each Bond Year in <br />which principal is payable shall be not more than three times the Bond Service <br />Charges payable in any other Bond Year in which principal is payable; (vii) 'shall <br />be subject to optional redemption in the amounts, upon the conditions, and at the <br />times and prices, not exceeding 105% of the principal amount thereof, as shall <br />be provided for in the Series Legislation which amount and times and prices may <br />be determined in the Invitation for Bids and set forth in th~ Certificate of <br />Award; and (viii) shall be dated as of the date set forth in the Series <br />Legislation. <br /> <br />(b) Purpose. Bonds, and Notes in anticipation thereof, to be <br />issued pursuant to this General Bond Legislation and Series Legislation shall be <br />issued only for the purpose of providing funds to pay (i) the costs of <br />acquisition, construction and improvement of the Utility facilities, including, <br />without limitation, Improvements thereto and acquisitions therefor, and (ii) <br /> <br />-6- <br />