39-08 Issuance & Sale of Notes Reforestation $60,000

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"Bonds" means the bonds anticipated by the Notes, "Book-Entry Form" or "Book-Entry System" means a form or system under which (a) the ownership of book-entry interests in Notes and the Debt Service on the Notes may be transferred only through a book entry, and (b) physical note certificates in fully registered form are issued by the City only to a Depository or its nominee as registered owner, with the Notes deposited and retained in the custody of the Depository or its agent. "Certificate of Award" means the certificate authorized by Section 7 of this ordinance, setting forth the terms and other provisions of the Notes required or authorized by this ordinance, "Closing Date" means the date of delivery of and payment for the Notes, "Code" means the Internal Revenue Code of 1986, as amended, References to the Code and sections of the Code include applicable regulations (whether temporary or final) under the Code, and any amendments of, or successor provisions to, those sections or regulations. "Debt Service" means all amounts due as principal, interest, and any premium on an issue of securities, "Depository" means any securities depository that is a clearing agency under federal law operating and maintaining, with its Participants or otherwise, a Book-Entry System to record ownership of book-entry interests in securities or the principal of and interest on securities, and to effect transfers of securities, in Book-Entry Form and means initially the Depository Trust Company, New York, New York, a limited purpose trust company, "Federal Tax Status" means the status of the interest on the Notes as excludable from gross income for federal income tax purposes and not treated as an item of tax preference for purposes of the alternative minimum tax. "Financing Costs" means any financing costs authorized to be paid by Section 133,OI(K) of the Ohio Revised Code, "Note Proceedings" means, collectively, this ordinance, the Certificate of Award, the Registrar Agreement, and the other proceedings of the City, including the Notes, that provide collectively for, among other things, the rights of holders and beneficial owners of the Notes, "Notes" means the Reforestation Program Notes, Series 2008, authorized by this ordinance, "Participant" means any participant contracting with a Depository under a Book-Entry System and includes securities brokers and dealers, banks and trust companies, and clearing corporations. 9