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<br />the Fiscal Officer, after making provision for notification of the
<br />beneficial owners by the then Depository arid any other arrangements
<br />he deemª necessary, shall permit withdrawal of the Bonds from the
<br />Deposi tory 1 and authenticate and deliver bond certificates in
<br />bearer or registered form, as he determines, to the assigns of the
<br />Depository or its nominee, all at the cost and expense (including
<br />any costs of printing), if the event is not the result of Council
<br />action or inaction, of those persons requesting such issuance,
<br />
<br />As used in this Section and this ordinanc'e:
<br />
<br />I1Book-entry formll or flbook-entry systemll means a form or
<br />system under which (i) the bene£icial right to principal and
<br />interes't may be transferred only through a book entry and
<br />(ii) physical bonds in registered forTIi are issued only to a
<br />Deposi tory or its nominee as registered owner, with the bonds
<br />nimmobilizedHto the custody of the Depository, and the book entry
<br />is the record that identifies the owners of beneficial, interests in
<br />that principal and interest.
<br />
<br />UDepositoryll means any securities depository that is a
<br />clearing agency under federal law operating and maintaining a boök-
<br />entry system to record beneficial ownership of the right to
<br />principal and interest, and to effect transfers of bonds, in book~
<br />entry form, and includes and means initially The Depository Trust
<br />Company (a limited purpose trust company), New York,New York,
<br />
<br />nparticipantFl means any participant contracting with a
<br />Depository under a book-entry system and includes security brokers
<br />and dealers, banks and trust companies, and Glearing corporations"
<br />
<br />SECTION 5. The Bonds are sold at private sale to
<br />National City Investments Capital, lric., Cleveland, Ohio (the
<br />IIOriginal Purchaser"), and shall be awarded by the Fiscal Officer
<br />with the final purchase price,interest rate or rates and principal
<br />installments due at stated maturity or pursuant to Mandatory
<br />Sinking Fund Redemption Requirements as set forth in the
<br />Certificate of Award, in accordance with law, the provisions of
<br />this ordinance and the Original Purchaser's offer to purchase the
<br />Bonds (as set forth in the Bond Pu:r:chase Agreement hereinafteJ:
<br />mentioned) at a purchase price of not less' than 97% of par plus
<br />accrued interest to their date of delivery, and the Fiscal Officer
<br />shall sign and deliver, in the name and on behalf of the City, a
<br />Bond Purchase Agreement between the City and the Original
<br />Purchaser. The Mayor and the Fiscal Officer, as appropriate, are
<br />each authorized and directed to sign any transcript certif,icates,
<br />financial statements and other docl1ments, agreements,
<br />representations and instruments and to take such actions as are
<br />necessary or appropriate to consummate the transactions
<br />contemplated by this ordinance. The Director öf Law shall obtain
<br />the services of qualified Bond Counsel, and. his selection of
<br />Calfee, Halter & Griswold, Bond Attorneys, Cleveland, Ohio, as Bond
<br />Counsel for the Bonds is hereby confirmed, approved and ratified.
<br />The Fiscal Officer shall cause the Bonds to be prepared, and have
<br />the Bonds signed and delivered, together with a true transcript of
<br />proceedings with reference to the issuance of the Bonds, to the
<br />Original Purchaser upon payment of the purchase price. The
<br />proceeds from the sale of said Bonds, except the accrued interest
<br />thereon, shall be paid into the proper fund and used for the
<br />purpose for which the Bonds are being issued under the provisions
<br />of this~ordinance and may be used to pay those certain costs of
<br />issuance set forth in Section 133.15(B), Ohio Revised Code; any
<br />such costs also may be paid out of any other lawfully available
<br />moneys of the City and any such costs which are future financing
<br />costs may be paid from the same sources from which the principal of
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