09-93 Sanitary Sewer System Bonds $1,650,000

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Section 2. Said bonds shall be dated approximately May 1, 1994, shall bear interest at the estimated rate of six and one-half percent (6 1\2%) per annum, payable semi- annually, until the principal sum is paid, and shall mature in twenty (20) annual installments after their issuance. Section 3. It is hereby determined that notes (hereinafter called the "Notes') in a principal amount not to exceed $1,650,000 shall be issued in anticipation of theissuance of said bonds for the above-described purpose, which principal amount of the Notes shall be set forth in the Certificate of Award. The Notes shall bear interest at a rate not exceeding the maximum interest rate of four percent (4 %) per annum, as shall be fixed in the Certificate of Award, such interest to be payable at maturity; shall be in bearer form; shall be dated their date of issuance; shall mature no later than one (1) calendar year after the date of issuance as stated in the Certificate of Award; shall not be subject to redemption by the Issuer at any time prior to maturity; and shall be payable as to both principal and interest at Huntington National Bank, as Fiscal Agent, at Columbus, 'Ohio, without deduction for exchange, collection or service charge. The notes shall be designated 'Sanitary Sewer System Special Obligation Bond Anticipation Notes, Series 1993'; such notes shall contain a summary statement of the purpose for which the Notes are issued; shall state that they are issued pursuant to this Series Legislation and the General Bond Legislation; shall be issued in such numbers and denominations as may be requested by the Original Purchaser; and shall be executed by the Mayor and Fiscal Officer of the Issuer, provided that one of such signatures may be a facsimile signature. Section 4. The Notes are hereby awarded and shall be sold at a private sale to National City Bank, Cleveland, Ohio (the 'Original Purchaser'), at not less than 100% of the par value thereof, at an interest rate not exceeding that specified in Section 3 hereof, all in accordance with law and upon terms and conditions consistent with this Series Legislation and the Certificate of Award. The Certificate of Award shall state the original aggregate principal amount of the Notes to be issued, and the purchase .price, together with such additional information as shall be required by the terms of this Series Legislation. The Fiscal Officer of the Issuer shall obtain the assistance of Calfee, Halter & Griswold, Bond Attorneys, Cleveland, Ohio, cause the Notes to be prepared, and have the Notes signed and delivered, together with a true transcript of proceedings with reference to the issuance of the Notes, to the Original Purchaser thereof upon payment of the purchase price. The proceeds from the sale of said Notes, except the accrued interest thereon, shall be paid into the proper fund and used for the purpose for which the Notes are being issued under the provisions of this Series Legislation. The proceeds of the Notes 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 ][awfully 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 Notes are paid, which monies are hereby appropriated for such purpose. Any accrued interest shall be -3-