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<br />"Series 2006B Notes" means that portion of the Various Purpose General
<br />Obligation Bond Anticipation Notes, Series 2006B of the Issuer related to costs for improving
<br />wätet lilies.
<br />"Specified Interest Rates" means the interest rate or rates per annum at which the
<br />Series 2006 Bonds bear interest, which rate or rates shall be determined by the Fiscal Officer in
<br />the Certificate of Award, provided the true interest cost of the Series 2006 Bonds determined on
<br />the basis of such Specified Interesi Rates and the public offering prices of the Series 2006 Bonds
<br />may not exceed, eight and 0/100 per centum (8.0%) per armuffi.
<br />"Term Maturity Date" means, with respect to the Series 2006 Bonds, such date or
<br />dates on which Series 2006 Bonds which are Term Bonds, if any, mature at their stated
<br />maturities, as shall be detenuined by the Fiscal Officer pursuant to this Series 2006 Bond
<br />Legislation and specified in the Certificate of Award; provided, however, that no such date shall
<br />be later than July 1, 2046.
<br />"Third Supplemental Indenture" means the Third Supplemental Indenture of
<br />Mortgage, betweeu the Issuer and the Trustee, to be dated as of the date set forth in the
<br />Certificate of Award (provided, however, that such date shall not be earlier than June 1, 2006),
<br />including this Series 2006 Bond legislation as a part thereof and relating to the issuance of the
<br />Series 2006 Bonds.
<br />"Trustee" means The Huntington National Bank, un;tess 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.
<br />The captions and headings iu this Series 2006 Bond Legislation are solely for
<br />convenience of reference and do not define, limit or describe the scope or intent of any
<br />provisions or Sections of this Series 2006 Bond Legislation.
<br />Section 2. Determination bv Legislative Authority: Authorization and
<br />Purposes of the Series 2006 Bonds. This Legislative Authority hereby determines that it is
<br />necessary and a proper municipal public purpose and in the best interest of the Issuer to, and the
<br />Issuer shall, issue, sell and deliver, as provided and authorized herein,_ the Series 2006 Bonds in
<br />the aggregate principal amount of not to exceed $12,500,000, as shall be determined by the
<br />Fiscal Officer in the Certificate of Award, pursuant to the authority of Article XVIII of the Ohio
<br />Constitution, the Charter of the Issuer and this Series 2006 Bond Legislation, and under and in
<br />accordance with the Original Indenture, as supplemented by the First Supplemental Indenture,
<br />the Second Supplemental Indenture, the Third Supplemental Indenture and, when execoted, the
<br />Fourth Supplemeutal Indenture authorized herein, for the following purpose" (i) paying the
<br />Cost of certain hnprovemeuts constituting Project 2006, including, without limitation, the
<br />reconstruction of water mains and water service connections, together with the necessary
<br />appurtenances and work incidental thereto, which will be done during 2006 and thereafter, if
<br />necessary, (ii) funding the Bond Reserve Requirement with a surety bond in lieu of cash on
<br />deposit in the Bond Reserve Fund; (iii) refuuding the portion ($4,840,000) of the Series 2006B
<br />Notesrelated to the improvement of water lines; and (iv) pay Financing Costs related to the
<br />issuance and sale of the Series 2006 Bonds, including, without linútation, the premiums for a
<br />municipal bond insurance policy and a surety bond for the Series 2006 Bonds.
<br />Section 3. Terms and Provisions of the Series 2006 Bonds.
<br />(a) Generallv. The Series 2006 Bonds (i) shall be designated "Water System
<br />Revenue Bonds, Series 2006"; (ii) shall be issued (a) in the aggregate principal amount as
<br />determined by the Fiscal Officer in her Certificate of Award and (b) unless a Supplemental
<br />Indenture shall have been executed and delivered pursuant to Section 8.01 (g) of the Original
<br />Indenture, olÙY in fully registered fonu substantially as set forth in the Third Supplemental'
<br />Indenture; (iii) shall be exchangeable for other Series 2006 Bonds in the marmer and on the terms
<br />provided in the Indenture; (iv) shall be subject to optional redemption IjIld mandatory redemption
<br />pursuant to Sinking Fund Requirements, each as described below; and (v) shall be numbered, as
<br />determined by the Fiscal Officer, in such marmer as to distinguish each Series 2006 Bond rrom
<br />any other Series 2006 Bond.
<br />(b) Denomination and Dates. The Series 2006 Bonds shall be in the
<br />denominations of $5,000, and any integral multiple thereof, but not to exceed the principal
<br />amouut of the Series 2006 Bonds maturing on anyone date, and shall be dated as of the date
<br />determined by the Fiscal Officer and specified in the Certificate of Award, provided such date
<br />shall not be earlier than June 1, 2006norlater than October 1, 2006. Each Series 2006 Bond
<br />shall have only one principal maturity date, except for interim certificates Or receipts, if any,
<br />issued pending preparation of definitive Series 2006 Bonds.
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