25-10 Issue & sale of notes - $7,771,000

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transferable or exchangeable, except for transfer to another Depository or to another nominee of a Depository, without further action by the City. If any Depository detemunes not to continue to act as a Depository for the Notes for use in a book entry system, the Director of Finance may attempt to establish a securities depository/book entry relationship with another qualified Depository. If the Director of Finance does not or is unable to do so, the Director of Finance, after making provision for notification of the beneficial owners by the then Depository and any other arrangements deemed necessary, shall pemut withdrawal of the Notes from the Depository, and shall cause the Notes in bearer or payable form to be signed by the officers authorized to sign the Notes and delivered to the assigns of the Depository or its nominee, all at the cost and expense (including any costs of printing), if the event is not the result of City action or inaction, of those persons requesting such issuance. The Director of Finance is also hereby authorized and directed, to the extent necessary or required, to enter into any agreements determined necessary in connection with the book entry system for the Notes, after determining that the signing thereof will not endanger the funds or securifies ofthe City. Section 6. The Notes shall be sold at not less than par plus accrued interest at private sale to KeyBanc Capital Markets, Ina (the Original Purchaser) in accordance with law and the provisions of this Ordinance. The Director of Finance shall sign the Final Terms Certificate making certain determinations regarding the terms of the Notes, cause the Notes to be prepared, and have the Notes signed and delivered, together with a true transcript of proceedings with reference to the issuance of the Notes if requested by the Original Purchaser, to the Original Purchaser upon payment of the purchase price. The Mayor, the Director of Finance, the Director of Law, the Clerk of Council and other City officials, as appropriate, are each authorized and directed to sign any transcript certificates, financial. statements and other documents and instruments and to take such actions as are necessary or appropriate to consummate the transactions contemplated by this Ordinance. The Director of Finance is authorized, if it is determined to be in the best interest of the City;. to combine the Notes with one or more other note issues of the City into a consolidated note issue pursuant to Section 133.30(B) of the Revised Code. Section 7. A portion of the proceeds from the sale of the Notes (including any premium) sufficient, together with other funds of the City, shall be paid into the Bond Refirement Fund to be used to pay principal of and interest on the Outstanding Note when due. The remaining proceeds of the Notes shall be deposited into appropriate fund or funds to be used to pay costs of the Improvements. All interest earned on the proceeds from the sale of the Bonds (and all interest earned on such interest) shall be credited to the fund in which the proceeds of the Notes are deposited, shall be used for the same purposes as the proceeds from the sale of the Notes and shall not be transferred to the General Fund. All the proceeds from the sale of the Notes and interest earned on those proceeds (and all interest earned on such interest) are hereby appropriated for the purposes stated above. Section 8. The paz value to be received from the sale of the Bonds or of any renewal notes and any excess funds resulting from the issuance of the Notes shall, to the extent necessary, be used to pay the debt chazges on the Notes at maturity and aze pledged for that purpose. 3