02-01 Various Purpose Bonds $2,994,000

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SECTION 2. The Bonds shall be issued in one lot and notes not have been issued in anticipation of the Bonds. The Bonds may be issued in the denomination of $5,000 or any integral multiple of $5,000, but in no case as to a particular maturity date exceeding the principal amount maturing on that date. The Bonds shall be dated as determined by the Fiscal Officer, but no later than May 15, 2001. The Bonds shall bear interest at the rate or rates of interest (computed on a 360- day per year basis) as specified in a certificate of award which shall be signed by the Fiscal Officer and provide for the award of the Bonds in accordance with Section 5 of this ordinance (the "Certificate of Award'). Interest on the Bonds shall be payable on semi-annually each year on dates determined by the FiScal Officer (the "Interest Payment Dates"), commencing no later than ~Iune 1, 2002, until the principal amount has been paid or provided for. The. Bonds of any one maturity shall bear the same rate of interest. A particular Bond shall bear interest from the most recent date to which interest has been paid or provided for or, if no interest has been paid or provided for, from their date. "Fiscal Officer" as used in this Ordinance means the City's Director of Finance. SECTION 3. The Bonds shall bear interest (computed on a 360-day per year basis) at the rate or rates specified in the Certificate of Award, provided that the maximum average interest rate on the Bonds shall not exceed seven percent (7%) per annum. The Bonds shall mature serially and annually on dates detennined by the Fiscal Officer, commencing no later than December 1, 2002 and ending no later than December 1, 2031, and in such principal amounts as may be fLxed by the Fiscal OffiCer in the Certificate of Award, provided, that the Bonds stated to mature in any year may be issued as term bonds (the '~rerm Bonds") payable pursuant to Mandatory Sinking Fund Redemption Requirements as hereinafter defined and further described below. The Fiscal Officer, in fixing such years and such amounts, shall be consistent in thc aggregate with the separate periodiC maturities and principal payments determined in accordance with the maximum maturities certified to this Council by the Fiscal Officer for each purpose specified in Section 1 hereof and the requirements of Section 133.21, Ohio Revised Code: The Fiscal Officer shall determine in the Certificate of Award whether any of the Bonds shall bo issued as Term Bonds and any dates (the "Mandatory Redemption Dates") on which the principal amount stated above shall, be payable pursuant to Mandatory Sinking Fund Redemption Requirements rather than at stated maturity (the "Mandatory Sinking Fund Redemption Requirements"). The aggregate princiPhl of and interest on the Bonds payable in each calendar year in which .principal is payable, whether at maturity or by mandatory si~king fund redemption, shall be not more than three times such principal of and interest on the Bonds payable in any other calendar year in which principal is payable. The Bonds shall be subject to redemption prior to stated maturity as follows: (a) Mandatory Sinking Fund Redemption. If any of the Bonds are issued as Term Bonds, the Term Bonds shall be subject to mandatory sinking fund redemption and be redeemed pursuant to Mandatory Sinking Fund Redemption Requirements, at a redemption price of 100 percent of the principal amount redeemed, plus interest accrued to the redemption date; on the Mandatory Redemption Dates. The aggregate of the moneys to be deposited with the Registrar (as hereinafter defined) for payment of principal of and interest on any Term Bonds shall include amounts sufficient to redeem on the Mandatory Redemption Dates the principal amount of Term Bonds payable on those dates pursuant to the Mandatory Sinking Fund Redemption Requirements (less the amount of any crcdi! as provided below). The City shall have the option to deliver to the Registrar for cancellation Term Bonds in any aggregate principal amount and to receive a credit against the then current Mandatory Sinking Fund Redemption Requirement (and corresponding mandatory redemption obligation) of the City for any Term Bonds. That option shall be exercised by the City on or before the forty-fifth day preceding the applicable Mandatory Redemption Date, by fumisMng the Registrar a certificate, signed by the Fiscal Officer, setting forth the extent of the credit to be applied with respect to the then current Mandatory Sinking Fund Redemption Requirement. If the certificate is not timely furnished to the Registrar, the Mandatory Sinking Fund Redemption Requirement (and corresponding mandatory redemption obligation) shall not be reduced. A credit against the then current Mandatory Sinking Fund Redemption Requirement (and {KLF0962.DOC;I } 2 :-