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"Term Maturity Date" means, with respect to the Series 2002 Refunding Bonds,
<br />such date or dates on which Series 2002 Refunding Bonds which are Term Bonds, if any, mature
<br />at their stated maturities, as shall be determined by the Fiscal Officer pursuant to this Series 2002
<br />Refunding Bond Legislation and specified in the Certificate of Award; provided, however, that
<br />no such date shall be later than July 1, 2020.
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<br /> "Trustee" means The Huntington National Bank, unless and until a successor
<br />Trustee shall have become such pursuant to the applicable provisions of the Indenture, and
<br />thereafter "Trustee" shall mean the successor Trustee.
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<br /> The captions and headings in this Series 2002 Refunding Bond Legislation are
<br />solely for convenience of reference and do not define, limit or describe the scope or intent of any
<br />provisions or Sections oft/tis Series 2002 Refunding Bond Legislation.
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<br /> Section2. Determination by Legislative Authority; Authorization
<br />Purposes of the Series 2002 Refunding Bourts. This Legislative Authority hereby determines
<br />that it is necessary and a proper murfieipal public purpose and in the best interest of the Issuer to,
<br />and the Issuer shall, issue, sell and deliver, as provided and authorized herein, the Series 2002
<br />Refunding Bonds in the aggregate principal amount of not to exceed $7,000,000, as shall be
<br />determined by the Fiscal Officer in the Certificate of Award, pursuant to the authority of Article
<br />XVIII of the Ohio Constitution, the Charter of the Issuer and this Series 2002 Refunding Bond
<br />Legislation, and under and in accordance with the Original Indenture, as supplemented by the
<br />First Supplemental Indenture and the Second Supplemental Indenture authorized herein, for the
<br />following purposes: (i) to refund the Series 1991 Bonds; (ii) to advance refund the portion of the
<br />Series 2002 Notes related to the improvement of Hilliard Road by replacing water mains, and
<br />necessary appurtenances thereto, in Hilliard Road; (iii) subject to satisfaction of the conditions
<br />set forth herein, to pay the purchase price and other related costs in connection with soliciting
<br />and purchasing from the Holders thereof by means of a tender offer all or a portion of the
<br />Issuer's Outstanding Water System Mortgage Revenue Bonds, Series 1995; (iv)subject to
<br />satisfaction of the conditions set forth herein, to pay (a)the costs, if any, associated with
<br />obtaining the consent of the majority of Holders of the Issuer's Outstanding Bonds to the
<br />substitution of a surety bond in lieu of cash on deposit in the Bond Reserve Fund and (b) the
<br />premium for such surety bond; and (v) to pay Financing Costs related'to the issuance and sale of
<br />the Series 2002 Refunding Bonds, including, without limitation, the premium for a surety bond
<br />for the Series 2002 Refunding Bonds.
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<br />Section 3. Terms and Provisions of the Series 2002 Refunding Bonds.
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<br /> (a) Generally. The Series 2002 Refunding Bonds (i) shall be designated
<br />"Water System Mortgage Revenue Refunding Bonds, Series 2002"; (ii) shall be issued (a) in the
<br />aggregate principal amount as determined by the Fiscal Officer in her Certificate of Award and
<br />(b) unless a Supplemental Indenture shall have been executed and delivered pursuant to Section
<br />8.01(g) of the Original Indenture, only in fully registered form substantially as set forth in the
<br />Second Supplemental Indenture; (iii) shall be exchangeable for other Series 2002 Refunding
<br />Bonds in the manner and on the terms provided in the Indenture; (iv) shall be subject to optional
<br />redemption and mandatory redemption pursuant to Sinking Fund Requirements, each as
<br />described below; and (v) shall be numbered, as determined by the Fiscal Officer, in such manner
<br />as to distinguish each Series 2002 Refunding Bond from any other Series 2002 Refunding Bond.
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<br /> (b) Denomination and Dates. The Series 2002 Refunding Bonds shall be in
<br />the denominations of $5,000, and any integral multiple thereof, but not to exceed the principal
<br />amount of the Series 2002 Refunding Bonds maturing on any one date, and shall be dated as of
<br />the date determined by the Fiscal Officer and specified in the Certificate of Award, provided
<br />such date shall not be earlier than October 1, 2002 nor later than December 15, 2002. Each
<br />Series 2002 Refunding Bond shall have only one principal maturity date, except for interim
<br />certificates or receipts, if any, issued pending preparation of definitive Series 2002 Refunding
<br />Bonds.
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<br /> (c) Interest and Place of Pawnent. The Series 2002 Refunding Bonds shall
<br />bear interest, computed on the basis of a 360-day year composed of twelve 30-day months, from
<br />the most recent date to which interest has been paid or duly provided for or, if no interest has
<br />been paid or duiy provided for, from their date. Interest on the Series 2002 Refunding Bonds
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