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anticipation of the issuance of said bonds for the above-described. <br />purpose. The Notes shall bear interest at a rate not exceeding the <br />maximum interest rate of ten per centum (10%) per annum, as may be fixed <br />by the Fiscal Officer in his certificate awarding the' Notes, such interest <br />to be payable at maturity, with provision, if requested by the purchaser, <br />that, in the event of default, the same shall bear interest at a rate not <br />exceeding the maximum interest rate of ten per centum (10%) per annum <br />until the principal sum is paid; shall be dated their date of issuance and <br />shall mature on a date between nine months and one year from such date, as <br />determined by the Fiscal Officer; shall not be subject to redemption by <br />the City at any time prior to maturity; and shall be payable as to both <br />principal and interest at the office of the Fiscal Officer of the City, or <br />at banks or trust companies, as determined by the Fiscal Officer, without <br />deduction for exchange, collection or service charge. "Fiscal Officer" as <br />used in this ordinance means the City's Director of Finance, Assistant <br />Director of Finance, Acting Director of Finance or Director of Public <br />Works. <br /> <br /> Section ~. Pursuant to Section 133.30(B), Ohio Revised Code, <br />the Fiscal Officer may combine the Notes with other notes into a single <br />consolidated issue of notes'for purposes of their sale as a single issue, <br />to be designated "Various Purpose General Obligation Bond Anticipation <br />Notes, Series 1993A"; such notes shall contain a St~mmary statement of <br />purposes encompassing the purpose for which the Notes are issued; shall <br />state that they are issued pursuant to this ordinance; shall be issued in <br />such numbers and denominations as may be requested by the original <br />purchaser; and shall be executed by the Mayor and Fiscal Officer, provided <br />that one of such signatures maybe a facsimile signature. <br /> <br /> Section 5. The Notes shall be sold at not less than the par <br />value thereof in a manner determined by the Fiscal Officer to the <br />purchaser offering the lowest interest cost to the City at an interest <br />rate not exceeding that specified in Section 3 of this ordinance after <br />distribution to prospective purchasers of the Notes of an Invitation for <br />Proposals substantially in the form attached hereto as Exhibit 1. The <br />Director of Law shall obtain the services of qualified Bond Counsel, and <br />his selection of Calfee, Halter & Griswold, Bond Attorneys, Cleveland, <br />Ohio, as Bond Counsel for the Notes is hereby confirmed, approved and <br />ratified. The Fiscal Officer shall cause the Notes to be prepared, and <br />have the Notes si~ned and delivered, together with a true. transcript of <br />proceedings with reference to the issuance of the Notes, to the original <br />purchaser thereof upon payment of the purchase price. The proceeds from <br />the sale of said Notes, except the accrued interest thereon, shall be <br />paid into the proper fund and used for the 'purpose for which the Notes are <br />being issued under the provisions of this ordinance. The proceeds of the <br />Notes also maybe used to pay, and are hereby appropriated to pay, those <br />certain costs of issuance set forth in Section 133.15(B), Ohio Revised <br />Code; any such costs also may be paid out of any other lawfully available <br />moneys of the CiTy, which monies are hereby appropriated to such purpose; <br />any such costs which are future financing costs may be paid from the same <br />sources from which the principal of and interest on the Notes are paid, <br />which monies are hereby appropriated for such purpose. Any accrued <br />interest shall be paid into the Bond Retirement Fund to be applied to the <br />payment of the principal and interest of the Notes in the manner provided <br />by law. <br /> <br /> The City covenants that it will restrict the use of the pro- <br />ceeds of the Notes in such manner and to such extent, if any, as may be <br />necessary so that the Notes will not constitute arbitrage bonds under <br />Section 148 of the Internal Revenue Code of 1986, as amended (the "Gode"). <br />The Fiscal Officer, as the fiscal officer, or any other officer of the <br />City having responsibility for the issuance of the Notes shall give an <br />appropriate certificate of the City, for inclusion in the transcript of <br />proceedings for the Notes, setting forth the reasonable expectations of <br />the City regarding the amount and use of all the proceeds of the Notes, <br /> <br /> <br />