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where necesSary, of the base, and by reSurfacing with asphaltic concrete,
<br />including the necessary replacement and resetting of castings, together with the
<br />necessary appurtenances thereto, installation of traffic signalization devices,
<br />constructing and improving recreational facilities, renovating existing buildings
<br />used for utility and Other municipal purposes, constructing a fire station and
<br />furnishing and equipping fire stations, installing traffic signalization devices,
<br />improving sites for off-street parking of motor vehicles and making improvements
<br />to, and acquiring certain machinery and equipment for the City's water system and
<br />any ancillary systems thereto.
<br />
<br />The Notes, unless paid from other sources and subject to the provisions of
<br />federal bankruptcy law and other laws affecting creditors' rights, are to be paid
<br />from the proceeds of the levy of ad valorem taxes on all property subject to ad
<br />valorem taxes levied by the City, which taxes are within the ten-mill limitation
<br />imposed by law.
<br />
<br /> The Notes will be prepared in ~"fpewritten or xerographically reproduced format
<br /> the expense of the City. If the original purchaser requests printed Notes, the
<br /> original purchaser must pay the expense of printing.
<br />
<br /> Delivery will be made without charge at such place in the State of Ohio as ~he
<br /> original purchaser shall designate, provided that other mutual satisfactory
<br /> arrangements for delivery outside the State of Ohio at the expense of the
<br /> original purchaser may be made. It is anticipated that delivery will be made
<br /> approximately on May 25, 1993. The original purchaSer must pay for the Notes on
<br /> the date of delivery in Federal Reserve Funds of the United States of America.
<br />
<br />The City deems the enclosed Preliminary Official Statement to be final as of its
<br />date within the meaning of paragraph (b)(1) of Section 240.15c2-12 ("Rule 15c2-
<br />12") of the General Rules and Regulations, Securities and Exchange Act of 1934.
<br />The Ci~ywill furnish the original purchaser within seven business days of May
<br />11, 1993, twenty (20) copies of the final Official Statement, and the original
<br />purchaser is authorized to reproduce and circulate at its expense such final
<br />Official Statement in sufficient quanti~y to comply with paragraphs (b)(3) and
<br />(b)(4) of Rule 15c2-12 and the rules of the Municipal Securities Rulemaking
<br />Board.
<br />
<br /> If the original purchaser has purchased~he Notes for reoffering to =he public,
<br /> the original purchaser will be required to provide to the City, prior to the
<br /> delivery of the Notes, the initial offering price of each maturity of the Notes
<br /> to the public (excluding bondhouses, brokers and other intermediaries), which
<br /> prices shall be expressed as a dollar amount (the "initial offering prices").
<br /> Regardless of whether the original purchaser has purchased t/~e No~es for
<br /> reoffering or for holding for its account, the original purchaser will be
<br /> required to provide to the City, prior to the delivery of the Notes, the yield
<br /> on the No~es, being~hat yield which, when used in computing present value of all
<br /> payments of principal and interest to be paid on the Notes, produces an amount
<br /> equal to the issue price of the Notes, the "issue price" being (a) the aggregate
<br /> of the initial offering prices plus accrued interest, if any, or (b) if the Notes
<br /> are purchased by the original purchaser for holding for its account, the price
<br /> paid =o ~he City by the original purchaser,~including any accrued interest. The
<br /> original purchaser will also be required to execute a certificate prepared by
<br /> Bond Counsel and da=ed the closing date (a) set=lng forth the issue Price,
<br /> (b) stating that (1) iOZ or more in par amount of each maturity of the Notes was
<br /> sold =o ~he public a= or below the initial Offering prices or (2) the Notes were
<br /> purchased by ~he original purchaser for holding for its account~ as =he case may
<br /> he, and (c) certifying that ~he yield supplied =o the City is that yield which,
<br /> when used in computing the present.value of ali. payments of principal and
<br /> interest on the Notes, produces an amount equal to the issue price.
<br />
<br />In the event that, prior to their delivery, the in~eres~ on the Notes should by
<br />any ac= of Congress or otherwise become subject =o federal income tax, or any ac=
<br />of Congress should provide that the interest income on theNotes shall be taxable
<br />at a future date for federal income tax purposes, whether directly or indirectly,
<br />the original purchaser may refuse to accept delivery. The City will furnish the
<br />transcript of proceedings and a certificate that to the knowledge of the signers
<br />no litigation or administrative action or proceeding is pending or threatened at
<br />~he ~ime of initial delivery to res=rain or enjoin, or seeking to restrain or
<br />enjoin, the issuance and delivery of the No=es, or the levy and collection of the
<br />taxes for their payment, or ~o con~es~ or question the proceedings and authority
<br />.under which the Notes have been authorized, issued, sold, executed or delivered
<br />or the validity of the Notes.
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