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<br />The Notes are to be issued in anticipation of bonds for the purpose of acquiring motorized
<br />equipment for various departments of the City, acquiring furnishings and equipment for
<br />various departments of the: . City, renovating the service garage by repairing the roof and
<br />installing air conditioning, improving streets and municipal properties by clearing. trimming
<br />and planting trees and preparing an inventory thereof, improving various sites, improving the
<br />Refuse Garage and the parking lot therefor, improving certain streets by installing traffic
<br />signalization devices. constructing improvements to the City's water system, acquiring motor
<br />vehicles and related equipment for nse in carrying out functions of various departments of the
<br />City, renovating, furnishing and equipping municipai buildings and improving municipal sites
<br />and rights-of-way, acquiring a pumper truck, together with all necessary appurtenances
<br />thereto, for the fire department of the City and paying the property owners' portion, in
<br />anticipation of the levy and collection of special assessments, and the City's portion of the cost
<br />of iutproving Forest Road from Clifton Road north to a cul-de-sac and Clifton Road from
<br />Clifton Boulevard southerly to Lake Road hy reconstruction and replacement of the base and
<br />resurfacing with reinforced concrete, inc1uqing the necessary installation and replacement of
<br />curbs, aprons and sidewalks. together with all necessary appurtenances thereto. and tree lawn
<br />restoration.
<br />
<br />The Notes, unless paid frOm other sources and subject to the provisions of federal bankruptcy
<br />law and other laws affecting creditors' rights, are to be paid from the proceeds of the levy of
<br />ad valorem taxes on all property subject to ad valorem taxes levied by the City, which taxes
<br />are within the ten-mill limitation imposed by law
<br />
<br />Any fees of the Ohio Municipal Advisory Council shall be the responsibility of the successful
<br />bidder.
<br />
<br />The Notes will be prepared in typewritten or xerographicaily reproduced form at the expeuse
<br />of the City, If the original purchaser requests printed Notes, the original purchaser must pay
<br />the expeuse of printing,
<br />
<br />Delivery will be made without charge at such place iu the State of Ohio as the original
<br />purchaser shall designate, provided that other mutual satisfactory arrangements for delivery
<br />outside the State of Ohio at the expense of the original purchaser may be made It is
<br />anticipated that delivery will be made approximately On May 9, 1997, The original purchaser
<br />must pay for the Notes on the date of delivery in Federal Reserve Funds of the United States of
<br />America,
<br />
<br />The City deems the enclosed Prelinùnary Official Statement to be final as of its date within the
<br />meaning of paragraph (b)(1) of Section 240. 15c2-12 ("Rule 15c212") of the General Rules and
<br />Regulations, Securities and Excbange Act of 1934, The City will furnish the original
<br />purchaser within seven business days of April 29, 1997, twenty (20) copies of the final Official
<br />Statement, and the original purchaser is authorized to reproduce and cÌrculate at its expense
<br />such final Official Statement in sufficient quantity to comply with paragraphs (b)(3) and (b)(4)
<br />of Rule 15c2-12 and the rules of the Municipal Securities Rulemaking Board
<br />
<br />If the original purchaser has purchased the Notes for reoffering to the public, the original
<br />purchaser will he required to provide to the City, prior to the delivery of the Notes, the initial
<br />offering price of each maturity of the Notes to the puhlic (excluding bondhouses, brokers and
<br />other intermediaries), which prices shall be expressed as a dollar amount (the "initial offering
<br />prices'). Regardless of whether the original purchaser has purchased the Notes for reoffering
<br />or for holding for its account, the original purchaser will be required to provide to the City,
<br />prior to the delivery of the Notes, the yield on the Notes, being that yield which, when used in
<br />computing present value of all payments of principal and interest to be paid on the Notes,
<br />produces an amount equal to the issue price of the Notes, the "issue price" being (a) the
<br />aggregate of the initial offering prices plus accrued interest, if any, or (b) if the Notes are
<br />purchased by the original purchaser for holding for its account, the price paid to the City by
<br />the original purchaser, including any accrued interest. The original purchaser will also 'be
<br />required to execute a certificate prepared by Bond Counsel and dated the closing date (a)
<br />setting forth the issue price, (b) stating that (1) 10% or more in par amount of each maturity of
<br />the Notes was sold to the public at or below the initial offering prices or (2) the Notes were
<br />
<br />H:IFENIX\14282\J4282ECA.81D
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