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maturity and thereafter to be fixed by the Director of Finance in his <br />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 "Service Building Notes"; <br />shall express upon the face thereof the purpose for which they are <br />issued and that they are issued pursuant to this Ordinance; and shall be <br />payable as to both principal and interest at the office of the Director <br />of Finance, Mayfield Village, Ohio or as otherwise determined by the <br />Director of Finance and set forth in the Notes, which determination is <br />hereby authorized, ratified and confirmed. <br />Section 4. That the Notes shall first be offered to the officer <br />in charge of the Bond Retirement Fund for investment in such Fund and, <br />if rejected by such officer, shall be sold at private or public sale by <br />the Director of Finance at a rate or rates of interest not exceeding the <br />limitation set forth in Section 3 hereof, such sale to be made at not <br />less than the par value of the Notes together with accrued interest <br />thereon, if any. Any premium and accrued interest shall be credited to <br />the Bond Retirement Fund to be applied to the payment of the principal <br />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 />-4- <br />