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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 S. 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 Playfield Village and <br />the Codified Ordinances of rlayfield Village, Ohio, 1979, as amended. <br />Section 6. That the par value to be received from the sale of <br />the Bonds and any premium or accrued interest resulting from the issu- <br />ance and sale of the Notes shall, to the extent necessary, be used only <br />for the retirement of the Notes at maturity, together with interest <br />thereon, and are hereby pledged for such purpose. <br />Section 7. That, in the event that said special assessments <br />are not levied or the Bonds are not issued to provide a fund for the <br />payment of the Notes, at maturity, then, without relieving the Village <br />of any other obligation, a general ad valorem tax shall be levied against <br />all of the taxable property in the Village for the payment of the Notes <br />and interest thereon. <br />Section 8. That, nottaithstanding any other provisions of this <br />Ordinance, the Village hereby covenants that it will restrict the use of <br />_4_ <br />