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<br />Section 4. Pursuant to Section 133 30(B), Ohio Revised Code. the Fiscal Officer <br />may combine the Notes with other notes into a single consolidated issue of notes for purposes of <br />their sale as a single issue, to be designated "Various Purpose General Obligation Bond <br />Anticipation Notes, Series I998A"; such nptes shall contain a summary statement of purposes <br />encompassing the purpose for which the Notes are issued; shall state that they are issued <br />pursuant to this ordinance; shall be issued in such numbers and denominations as may be <br />requested by the original purchaser; and shall be executed by the Mayor and Fiscal Officer, <br />provided that one of such signatures may be a facsimile signature. <br /> <br />The Notes, pursuant to the terms set forth below, may also be issued to a <br />Depository (as hereinafter defined) for use in a book-entry system (as hereinafter defined) The <br />Director of Finance is hereby authorized and directed, to the extent necessary or required, to <br />enter into any agreements detennined necessary in cOIlllection with the authentication, <br />immobilization, and transfer of Notes, including arrangements for the payment of principal and <br />interest by wire transfer, after detennining that the execution thereof will not endanger the funds <br />or securities of the City, which deteIIDination shall be conclusively evidenced by the signing of <br />any such agreement. <br /> <br />If and as long as a book-entry system is utilized, (i) the Notes shall be issued in <br />the form of one note in the name of the Depository or its nominee; as owner, and immobilized in <br />111e custody of the Depository; (ii) 111e beneficial owners in book-entry fonn shaH have no right to <br />receive Notes in the form of physical securities or certificates; (iii) ownership of beneficial <br />interests in book-entry form shall be shown by a book entry on. the System maintained and <br />operated by tl1e Depository and its Participants (as hereinafter defined), and transfers of the <br />ownership of beneficial interests shall be made only by book entry by the Depository and its <br />Participants; and (iv) the Notes as such shall not be transferable or exchangeable, except for <br />transfer to another Depository or to another nominee of a Depository, without further action by <br />111e Council 0[111e City <br /> <br />If any Depository determines not to continue to act as a Depository for the Notes <br />for use in a book-entry system, the Director of Finance inay attempt to have established a <br />securities depository/book-entry relationship with another qualified Depository" If the Director <br />of Finance does not or is unable to do so, the Director of Finance, after making provision for <br />notification of the beneficial owners by the then Depository and any other arrangements she <br />deems necessary, shaH pennit withdrawal of the Notes rrom 111e Depository, and au111enûcate and <br />deliver Note certificates in bearer or registered fonn, as she determines, to the assigns of the <br />Depository or its nominee, all at the cost and expense (including any costs of printing), if the <br />eVent is not the result of Council action or inaction, of those persons requesting such issuance. <br /> <br />As used in this Section mid this ordinance: <br /> <br />"Book-entry form" or ¡¡book-entry system" means a form or system under which <br />(i) 111e beneficial rÍght to principal and interest may be transferred only through a book entry and <br />(ii) physical notes are issued only to a Depository or its nominee as owner, with the Notes <br />"immobilized" to the custody of the Depository, and 111e book entry is 111e record 111at identifies <br />the owners of beneficial interests in that principal and interest. <br /> <br />¡'Depository" mean~ any securities depository that is a clearing agency under <br />federal law operating and maintaining a book:-entry system to record beneficial ownership of the <br />right to principal and interest, and to effect transfers of notes, in book-entry form, and includes <br />and means initially The Depository Trust Company (a limited purpose trust company), New <br />York, New York <br /> <br />¡'Participant" means any participant contracting with a Depository under a book- <br />entry system and includes security brokers and dealers, banks and trust companies, and clearing <br />corporations. <br /> <br />Section 5. The Notes shall be sold at not less that par value thereof at private sale <br />to AG, Edwards & Sons, Inc, S1. Louis, Missouri (the ¡¡Original Purchaser") at art interest rate <br />not exceeding that specified in Section 3 of this ordinance. The Director of Law shall obtain the <br /> <br />H:\FENIX\14282\14282NAB.81B <br /> <br />2 <br />