21-09 Anticipation Notes $4,321,000 capital improvements

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all purposes of the Note Proceedings. Payment of the Debt Service on any Note will be made only to or upon the order of that person. (b) Transfer and Exchange. Any Note may be transferred or exchanged for Notes of any Authorized Denomination, as provided in the Registrar Agreement. (c) Book-Entry System. Unless otherwise provided in the Certificate of Awazd, the Notes must be originally issued in Book-Entry Form to a Depository, initially The Depository Trust Company, for use in a Book-Entry System upon the terms provided in the Registrar Agreement. The City and the Registrar must recognize and treat the Depository as the owner of the Notes for all purposes, including payment of Debt Service, redemption and other nofices, and enforcement of remedies. If any Depository determines not to continue to act as a Depository for the Notes for use in a Book-Entry System or if the City determines to discontinue the Book- Entry System, the Daector of Finance may attempt to establish a securities depository relationship with another qualified Depository. If the Director of Finance does not or is unable to do so, the Duector of Finance must direct the Registrar to make provision for notification of the book-entry interest owners by the Depository and to make any other arrangements necessary for the withdrawal of the Notes from the Book-Entry System. Section 7. Sale of the Notes. (a) Private Sale. The Notes will be sold at private sale in accordance with law, the provisions of this ordinance, and any Purchase Agreement, at a purchase price to be determined by the Director of Finance in the Certificate of Awazd. That purchase price must not be less than 97% of the principal amount of the Notes, plus any accrued interest on the Notes from their date to the Closing Date. The Daector of Finance may either sell the Notes to an investment banker, acting as underwriter, or to a financial institution or other entity or person, in a private placement. The Director of Finance may enter into a Purchase Agreement with the Original Purchaser in that private sale, or may sell the Notes without a Purchase Agreement. The Notes must be sold with and upon such other terms as aze required or authorized by this ordinance to be specified in the Certificate of Award, in accordance with the law, the provisions of this ordinance, and any Purchase Agreement. (b) Consolidation. If the Director of Finance deternines it to be in the best interest of the City, she may combine the issue of the Notes with one or more other note issues of the City into a consolidated note issue in accordance with Section 133.30(B), Revised Code. 4