13-96 Tree Planting Bond $90,000

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equal to the issue price of the Notes, the "issue orice" being (a) the aggregate of the iniziai offering prices plus a~crued interest, if any, or (b) if the Notes are purchased by the original purchaser for holding for its account, the price paid to the City by the original purchaser, including any accrued inceresz. The original purchaser will also be required to execute a cercificaze prepared by Bond Counsel and dated the closing dace (a setting forth the issue price, (b) stating thac (1) 10% or more in par amount of each maturity of the Notes was sold to the public ac or below the initial offering prices or (2) the Notes were purchased by the original purchaser for holding for its account, as the case may be, and (c) certifying that the yield supplied to the City is that yield which, when used in computing the present value of all payment:s of principal and interest on the Notes, produces an amount equal to the issue price. In accordance with the requirements of Rule !5c2-i2 promulgated by the Securities and Exchange Commission, the City has covenanted to provide in a timely fashion to each nationally recognized municipal securities information repository or ~o the Municipal Securities Rulemaking Board and to the appropriate state information depository, if any, designated by the Staue, notice of the occurrence of certain events deemed material with respect to the Notes, as more fully described in the enclosed Pre!imin~ryOfficiat Statement. In the event that, prior to their delivery, uhe interest on the Notes should by any act of Congress or otherwise become subject to federal income tax, or any act of Congress should provide that ~he interest income on =he Notes shall be taxable a= a future da~e for federal income tax purposes, whether directly or indirectly, the original purchaser may refuse ~o accept delivery. The City will furnish the transcript of proceedings and a certificate that to the knowledge of the signers no litigation or administrative action or proceeding is pending or threatened at the time of initial delivery uo restrain or enjoin, or seeking to restrain or enjoin, the issuance and delivery of the Notes, or the levy. and collection of ~he =axes for their payment, or to con=esu or question the proceedings and authority under which the Notes have been authorized, issued, sold, executed or delivered or the validity of the No~es. Any questions concerning the Notes should be addressed to: Susan Nobilio, Fiscal Officer, City of Lakewood, 12650 Detroit Avenue, Lakewood, Ohio 44107, Telephone: 521-7580, Area Code: 2!~. Dated: April 16, 1996 t34\14282EBA. 81D -3-