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ORDINANCE NO. 2014-17 PAGE 7 of notice of Bonds to be redeemed and the date of that mailing or (ii) any Bond selected for redemption, in whole or in part. Section 7. Award and Sale of the Bonds. In accordance with this Ordinance, the Bonds shall be awarded and sold at private sale at a price of not less than 97% of par plus any accrued interest to the original purchaser as determined by the Director of Finance in the Certificate of Award (the Original Purchaser) in accordance with the Certificate of Award. The Director of Finance is authorized to and shall sign and deliver the Certificate of Award. The Director of Finance shall, in the Certificate of Award, determine the principal amount of the Bonds, designate the interest rate or rates the Bonds sha11 bear, establish the Original Purchaser and the purchase price of the Bonds, set the Interest Payment Dates and Principal Payment Dates and amounts, set any optional redemption provisions, and make all of the other designations herein authorized and directed to be made, all within the parameters set forth herein, and shall execute the Certificate of Award and sha11 cause the Bonds to be prepared, signed and delivered, together with a true transcript of proceedings with reference to the issuance of the Bonds, to the Original Purchaser upon payxnent of the purchase price. The Mayor, the Director of Finance, the Clerk of Council, the President of Council, the Law Director and other Village 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 consumrnate the transactions contemplated by this Ordinance. Section 8. Refunding; Ca11 of Refunded Bonds. This Council determines that it is necessary and in the best interest of the Village to refund the Refunded Bonds. The Director of Finance is authorized and directed to give to The Huntington National Bank, as the authenticating agent, bond registrar, transfer agent and paying agent for the Refunded Bonds, written notice of the call for redemption, and the Refunded Bonds shall be redeemed in accordance with the Original Bond Legislation. The Village covenants for the benefit of the holders of the Refunded Bonds and of the Bonds, that it will at no time on or after the Closing Date take actions to modify or rescind that ca11 for prior redemption, and that it will talce, and will cause the bond registrar and paying agent for the Refunded Bonds to take, a11 steps required by the terms of the Refunded Bonds to make and perfect that ca11 for prior redemption. Section 9. Escrow Trustee. The Huntington National Bank is hereby appointed as the initial Escrow Trustee with respect to the refunding of the Refunded Bonds; provided, however, that the Director of Finance is authorized to appoint a different Escrow Trustee in the Certificate of Award after determining that such bank or trust company will not endanger the funds or securities of the Village and that proper procedures and safeguards are available for that purpose. The Escrow Trustee is authorized and directed to cause notice of the refunding of the Refunded Bonds to be given in accordance with the Escrow Agreement. The Mayor, the President of Council and the Director of Finance shall sign and deliver, in the name and on behalf of the Village, the Escrow Agreement between the Village and the Escrow Trustee, in