41-07 Retiring Computer Notes - Laserfiche WebLink

Home Browse Search

within the City, subject to the 10-mill limitation imposed by Section 5705.02, Revised Code. Section 3. Note Terms. The Notes will have the following terms: Amount. The Notes must be issued in the principal amount of $975,000 or any lesser prineipal amount as determined by the Director of Finance in the Certificate of Award. (b) Date. The Notes must be dated the Closing Date, or any other date, not more than 31 days before the Closing Date, as determined by the Director of Finance in the Certificate of Award. (c) Maturity. The Notes must mature one year from their date. The Director of Finance may, if she determines it to be in the best interests of the City, establish a different maturity date, less than one year from the Closthg Date. (d) Interest. The Notes must bear interest from their dato at a rate not to exceed 8O/o per annum, payable at maturity. Interest will be calculated on the basis cfa 360~ day year consisting of twelve, 30-day months. The rate of interest on the Notes must be determined by the Director of Finance in the Certificate of Award Redemption before Stated Maturity. The Notes will not be subject to redemption before maturity, unless otherwise determined by the Director of Finance in the Cortificate of Award~ ¢) Form, Numbering and Denomination. The Notes must be issued in fully registered form They must be issued in Book-Entry Form uhless the Director of Finance determines in the Certificate of Award that it would not be in the best interest of the City for the Notes to be in Book-Entry Form. They must be issued in Authorized Denominations and in the numbers and amounts as requested by the Underwriter and approved by the Director of Finance. They must be numbered as detem~ined by the Director of Finance in a manner to distinguish each Note from any other Note. They must express on their faces the purpose for wtfich they are issued and that they are issued in acCOrdance with this ord/mance. The Notes will be designated "Computer Equipment Notes, Series 2007," unless otherwise designated in the Certificate of Award. Section 4. Payment. The Debt Service on the Notes must be payable in lawful ~oney of the United States of America, without deduction for the services of the Registrar as paying agent. Debt Service on the Notes will be payable when due upon presentation and surrender of the Notes at the office of the Registrar. The Director of Finance may select such other paying agent as she deems appropriate. Section 5. Si~nlng and Authentication of the Notes. The Notes must be signed by the Mayor and the Director of Finance, in the name of the City and in their official capacities. Either of both of those signatures may be a facsimile. No Note will be valid or obligatory for any purpose or will be entitled to any security or benefit under the Note Proceedings unless and until the certificate of authentication printed on the Bond is signed by the Registrar as authenticating agent. Authentication by the Registrar will be conclusive evidence that the Note so authenticated has been duly issued~ signed, and delivered under, and is entitled to the security and benefit of, the Note Proceedings. The certificate of authentication may be signed by any author/zed officer or employee of fife Registrar or by any other person acting as an agent of the Registrar smd approved by the Director Of Finance on behalf of the City. The same person need not ,sign the certificate of authentication on all of the Notes. Section 6. _Reg. lstrationl Transfe[ and Exchan~el Book-Entry System_. Registrar. So long as any of the Notes remain outstanding, the City must cause the Registrar to maintain the Register. The person in whose name a Note is registered on the Register will be regarded as the absolute owner of that Note for 2