01-92 Sanitary Sewer Bonds $6,500,000

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Section 5. The Series 1992 Bonds are hereby awarded and shall be sold by the Fiscal Officer at private sale pursuant to Section 133.30, Ohio~Revised Code, to National City Bank, Cleveland, Ohio (the "Original Purchaser,,) at.a purchase price of not less than 97% of the par value thereof, as may be fixed by the Fiscal Officer in the Certificate of Award, plus accrued interest to the date of delivery, and at an interest rate not exceeding that specified in Section 3 hereof, all in accordance with law, the provisions of this Series Legislation and the Bond Purchase Agreement. The Mayor and the Fiscal Officer, or any one of them, shall sign and deliver, in the name of and on behalf of the Issuer, the Bond PUrchase Agreement in substantially the formnow on file with the Clerk of Council. The Bond Purchase Agreement is approved, together with any changes or amendments that are not inconsistent with this Series Legislation and not substantially adverse to the Issuer and that are approved by the Mayor and the Fiscal Officer on behalf of the Issuer, all of which shall be 'conclusively evidenced by the signing of the Bond Purchase Agreement or amendments to the Bond Purchase Agreement. The Legal Officer of the Issuer shall obtain the services of qualified Bond Counsel, and the Legal Officer's selection of Calfee, Halter & Griswold, Bond Attorneys, Cleveland, Ohio, as Bond Counsel for the Series 1992 Bonds is hereby confirmed, approved and ratified. The Fiscal Officer shall cause the Series i992 Bonds to be prepared, and shall have the Series 1992 Bonds signed and delivered, together with a true transcript of proceedings with reference to the issuance of the Series 1992 Bonds, to the Original Purchaser thereof upon payment of the purchase price. That portion of the proceeds from the sale of the Series 1992 Bonds to be used to pay the costs of Project 1992 shall be paid into the proper fund of the Issuer from which such costs shall be paid and used for such purpose. The proceeds of the Series 1992 Bonds may be used to pay, and are hereby appropriated to pay, those certain costs of issuance set forth in Section 133.15(B), Ohio Revised Code; any such costs also may be paid out of any other lawfully available moneys of the Issuer, which monies are hereby appropriated to such purpose; any such costs which are future financing costs may be paid from the same sources from which the principal of and interest on the Series 1992 Bonds are paid, which monies are hereby appropriated for such purpose. The portion of the proceeds of the Series 1992 Bonds to be used to refund the principal amount of the Series 1991 Notes at their maturity shall be paid into the Bond Retirement Fund of the Issuer and, if there are less than fifteen (15) Business Days prior to the maturity date of the Series 1991 Notes, shall, together with other moneys available and appropriated to pay the interest thereon, immediately be transferred to the Fiscal Agent to be applied to the payment of the principal of the Series 1991 Notes in the manner provided by law. The portion of the proceeds of the Series 1992 Bonds representing accrued interest shall be paid into the Bond Retirement Fund of the Issuer to be applied to the first -8-