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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 tbr purposes of <br />their sate as a single issue, to be designated "Various Purpose General Obligation Bond <br />Anticipation Notes. Series 1999"; such notes 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 purchus~, 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 attthorized and directed, to the extent necessary or required, to <br />enter into any agreements determined necessary in connection with the authentication, <br />immobilization, and transfer of Notes, including an'angements for the payment of principal and <br />interest by wire transfer, after determining that the execution thereof will not endanger the funds <br />or securities of the City, which determination 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 />the custody of the Depository; (ii) the beneficial owners in book-entry form shall 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 enuy on the system maintained and <br />operated by the Depository and its Participants (as herinafter defuled), 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 />the Council of the City. <br /> <br /> If any Depository delta'mines not to condnue to act ~ a Depository for the Notes <br />for use in a book-entry system, tim Director of Finance may 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, shall permit withdrawal of the Notes from the Depository, and authenticate and <br />deliver Note certificates in bearer or registered form, as she determines, to the assigns of the <br />Depository or its nominee, all at the cost and expense (including any costs of pr/nting), 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 and this ordinance: <br /> <br /> "Book-enu-y form" or "book-entry system" means a form or system under which <br />(i) the beneficial right 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, ~vith the Notes <br />-immobilized" to the custody of the Depository, and the book entry is the record that identifies <br />the o~ers of beneficial interests in that principal and interest. <br /> <br /> "Depository" means any securities depository that is a clearing agency under <br />t}deral 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 /> "Panicipanf' 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 than the par value thereof by the <br />Fiscal Officer at private sale in a manner determined by the Fiscal Officer to be in the best <br />interest and welfare of the Ci~ and at an interest rate not exceeding that specified in Section 3 of <br /> <br />· t I:'FENIX' 142112\KLFO309.DOC. I l 9_ <br /> <br /> <br />