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certificate awarding the Notes at private or public sale; shall be dated <br />the date of respective issuance; shall mature not more than one (1) year <br />from the date of issuance of the first Note issued hereunder, such <br />maturity to be fixed by the Director of Finance in his certificate <br />awarding the Notes at private or public sale; shall be redeemable at the <br />option of the Village prior to maturity at par~plus accrued interest to <br />the date of redemption;~shall be designated "Echo Drive Special Assess- <br />meat Notes"; shall express upon the face thereof the purpose for which <br />they are issued and that they are issued pursuant to this Ordinance; and <br />shall be payable as to both principal and interest at the office of the <br />Director of Finance, Mayfield Village, Ohio. <br />Section 4. That the Notes shall first be offered to the <br />officer in charge of the Bond Retirement Fund for investment in such <br />Fund and, if rejected by such officer, shall be sold at private or <br />public sale by the Director of Finance at a rate or rates of interest <br />not exceeding the limitation set forth in Section 3 hereof, such sale to <br />be made at not less than the par value of the Notes together with accrued <br />interest thereon, if any. Any premium and accrued interest shall be <br />credited to the Bond Retirement Fund to be applied to the payment of the <br />principal of and interest on the Notes in the manner provided by law. <br />Section 5. That the faith and credit of the Village are <br />hereby pledged for the payment of the principal of .and interest on the <br />Notes at maturity, in accordance with the Constitution of the State of <br />Ohio, the laws of the State of Ohio, the Charter of Mayfield Village and <br />the Codified Ordinances of Mayfield Village, Ohio, 1979, as amended. <br />-4- <br />