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Year Princiroal Year Princiroal <br />1 $ 5,000 11 $ 5,000 <br />2 5,000 12 5,000 <br />3 5,000 13 5,000 <br />4 5,000 14 5,000 <br />5 5,000 15 5,000 <br />6 5,000 16 5,000 <br />7 5,000 17 5,000 <br />8 5,000 18 5,000 <br />9 5,000 19 5,000 <br />10 5,000 20 5,000 <br />(c) Debt Service. The Bonds will be payable as to Debt Service (1) from special <br />assessments levied to pay the costs of the Project and, (2) if that money is <br />insufficient, from money lawfully available and appropriated for that purpose and, <br />(3) if that money is insufficient, from the proceeds of an ad valorem tax to be levied <br />on all property within the City, subject to the 10-mill limitation imposed by Section <br />5705.02, Revised Code. <br />Section 3. Note Terms. The Notes will have the following terms: <br />(a) Amount. The Notes must be issued in the maximum principal amount of <br />$100,000 or any lesser principal amount as determined by the Director of Finance <br />in the Certificate of Award. <br />(b) Date. The Notes must be dated the Closing Date, or any other date, not more than <br />31 days before the Closing Date, as determined by the Director of Finance in the <br />Certificate of Award. <br />(c) Maturity. The Notes must mature one year from their date. The Director of <br />Finance may, if she determines it to be in the best interests of the City, establish a <br />different maturity date, less than one year from the Closing Date. <br />(d) Interest. The Notes must bear interest from their date at a rate not to exceed 9% <br />per annum, payable at maturity. Interest will be calculated on the basis of a <br />360-day year consisting of twelve, 30-day months. The rate of interest on the <br />Notes must be determined by the Director of Finance in the Certificate of Award. <br />(e) Redemption before Stated Maturity. The Notes will not be subject to <br />redemption before maturity, unless otherwise determined by the Director of <br />Finance in the Certificate of Award. The Director of Finance may determine, in <br />the Certificate of Award, to provide that the Notes will be subject to redemption, <br />and may establish, in the Certificate of Award, notice provisions for that <br />redemption, and any price for that redemption, which may be any percentage of <br />the principal amount redeemed, not exceeding 110%. <br />-2- <br />