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<br />Section 6. The Notes shall be sold by the Director of Finance at private sale to NatCity
<br />Investmetrts, Inc., Cleveland, Ohio, at a purchase price not less than par plus accrued 'urterest, in
<br />accordance with law and the provisions of this ordinance. In accordance with her determination of
<br />the best imerest of the City and based on conditions then existing in the financial markets, the
<br />Director of Finance sha11 sign the Certificate of Award tv esta,blish and specify the aggregate
<br />principal amouirt of the Notes to be issuerl, the irrterest rate the Notes are to bear, the final purchase
<br />price of the Notes and other final terms of the Notes in accordance with the provisions of this
<br />ordinance and to evidence the sale of the Notes to the original purchaser. The Director of Finance
<br />sha11 then cause the Notes to be prepared, and have the Notes signed and delivered, together with a
<br />true transcript of proceedings with reference to the issuance of the Notes if requested by the original
<br />purchaser, to the original purchaser upon paymeirt of the purchase price. The Mayor, the Director
<br />of Finance, the Director of Law, the Clerk of Council and other City officials, as appropriate, are
<br />each authorized and directed to sign any transcript certificates, financial statemerrts and other
<br />dor,umerns and instruments and to take such actions as aze necessary or appropriate to consummate
<br />the transactions cornemplated by this ordinance. The Director of Finance is authorized, if it is
<br />determined to be in the best urterest of the City, to combine the issue of Notes with one or more
<br />other note issues of the City nrto a consolidateti note issue pursuairt to Section 133.30(B) of the
<br />Revised Code; provided that, if the aggregate principal amount of the consolidated issue is
<br />$1,000,000 ar more, the Director of Finance may detennine and specify in the Certificate of Award
<br />that no note of that issue sha11 be issued in a denominativn less than $100,000 or be exchangeable
<br />for other notes in denominations less than $100,000.
<br />If in the judgmern of the Mayor and the Director of Finance a disclosure document in the
<br />form of an official statement is appropriate relating to the original issuance of the Notes, either or
<br />both of those officers, on behalf of the City and in their official capacities, aze authorized to (i)
<br />prepare or cause to be prepared, and make or authorize modifications, completions or changes of or
<br />supplemerns to, such an official statemem, (ii) deternune, and to certify or otherwise represern,
<br />when the official statement is to be "deemed final" (except for permitted omissions) by the City as
<br />of its date ar is a final official statement for purposes of SEC Rule 15c2-12(b)(1), (3) and (4), (iii)
<br />use and distribute, or authorize the use and distributian of those official statemerrts and any
<br />supplemerns thereto in connection with the original issuance of the Notes, and (iv) complete and
<br />sign those official statemerns as so approved together with such ceztificates, statemerrts or other
<br />documents in connection with the finality, accuracy and completeness of those official statemerns.
<br />Section 7. The proceeds from the sale of the Notes, except any premium and accrued
<br />irnerest, sha11 be paid 'urto the proper fund or funds and those proceeds are appropriated and sha11 be
<br />used for the pwpose for which the Notes are being issued. The expendrture of those proceeds for
<br />the purpose set forth in Section 1, including, without limitation, for financing costs as defined in
<br />Section 133.01 of the Revised Cade, is hereby authorized and approved. Any portion of those
<br />proceeds represerrting premium and accrued itrterest shall be paid 'urto the Bond Retiremern Fund.
<br />Section 8. The par value to be received from the sale of the Bonds or of any renewal notes
<br />and any excess funds resulting from the issuance of the Notes shall, to the earteirt necessary, be used
<br />to pay the debt charges on the Notes at maturity and aze pledged for that purpose.
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