42-95 Motorized Equip Bond $805,000

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~ principal sum is paid¡ shall be dated their date of issuance and shall mature on a date between nine 'months and one year from such date, as determined. by tþe Fiscal Officer; shall not be subject to redemption by the City at any time prior to maturity; and shal¡,be payable as to both principal ~nd interest at the office of the Fiscal Officer of the City, 0~ at banks or trust companies, as determined by the "Fiscal Officer I _ without deduction for exchange., collection Or service charge. IIFiscal Officer!! as used in this ordinance means the City's Directo.rDf Finance, Assistant Director of Finance, Acting Director of Finance or Director of Public Works. Section 4. Pursuant to·Section 133 .3Ö (B) I Ohio Revised Code, the Fiscal Officer may combine the Notes with other notes into a single consolidàted issue of notes for purposes of their sale as a single issue, to be desigriateçl IIVarious Purpose General Obligation Bond Anticipation Notes, Series 1995!r; such notes shall contain a summary statement of purposes e~cQmpassing the purpose for which the Notes are issued; shall state that they are issued pursuant to this ordinance; 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 Ofti.cer, provided that one of such signatures may be a facsimile signature. Section 5. The Notes sha~l be sold at not less than the par value thereof in a manner determined by the: Fiscal Officer to the purchaser offering .the lowest intèrest cost to the City at an interest rate not exceeding that specified in Section 3 of this ordinance after dis!=ribution to prospective purchasers of the Notes of an Invitation for Proposals substantially in the form attached hereto as Exhibit 1. The Director of Law sh011 obtain the services of qualified Bond Counsel, and_his selection of Calfee,Halter & Griswold, Bond Attorneys, Cleveland, Ohio, as Bond Counsel for the Notes is hereby confirmed, approved and ratified. The Fiscal Officer shall cause the Notes to be prepared, qnd have the Notes signed and delivered, together with a true transc+ipt 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, ~xcept the accrued intere$t 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 ordinance The proceeds of the Notes also may be used to pay, and are hereby appropriated to pay, those certain costs of issuance set forth in Section i33 .15 (B), Ohio. Revised Code; any such costs also may be paid out of ,any other lawfully available moneys of the City, which monies are hereby appropriated to such purpose¡ any such costs which ~re 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 pu+pase. Any accrued interest shall be paid into the Bond Retirement Fund to be applied to the payment of the principal and interest of the Notes in the mannerprövided by law. The City cOvenants that it will restrict the use of the proceeds of the Notes in Such mariner and to such extent, if any, as may be necessary so that the Notes will not· constitute arbitrage bonds under Section 148 of thè Internal Revenue Code of 1986, as amended (the HCodell). The Fisèal Officer, as the fiscal officer, or any other officer of the City_ having responsibility ,for the issuance of the Notessl1all give an appropriate certificate of the City, for inclusion,in the transcript of proceedings for the Notes, setting forth the reasonable expectations of the City regarding the amount, and use of all the proceeds of the Notes, the facts, circumstances, and estimates on which they are based, and other facts and circumstances relevant to the tax treatment of interest on the Notes. -2-