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owl <br />Section 4. The debt charges on the Notes sha11 be payable in Federal Reserve funds of the <br />United States of America, without deduction for services of the City's paying agent, at the main <br />office of National City Bank, Cleveland, Ohio. <br />Section 5. The Notes shall be signed by the Mayor and Director of Finance, in the name of <br />the City and in their official capacities, provided that one of those signatures may be a facsimile. <br />Subject to the provisions of this Section and Section 6 of this ordinance, the Notes shall be issued in <br />the denominations and numbers as requested by the original purchaser and approved by the Director <br />of Finance, provided that the entire principal amount may be represented by a single note. The <br />Notes may be issued as fully registered securities (for which the Director of Finance will serve as <br />note registrar) and in book entry or other uncertificated form in accordance with Section 9.96 and <br />Chapter 133 of the Revised Code, with a single physical note certificate representing the entire issue <br />(or the consolidated issue into which it is combined with one or more other note issues of the City in <br />accordance with Section 6), if it is determined by the Director of Finance that issuance of fully <br />registered securities in that form will facilitate the sale and delivery of the Notes. The Notes shall <br />not have coupons attached, sha11 be numbered as deternuned by the Director of Finance and shall <br />express upon their faces the purpose, in sumunary terms, for which they are issued and that they are <br />issued pursuant to this ordinance. <br />As used in this Section and this ordinance: <br />"Book entry form" or "book entry system" means a form or system under which (i) the <br />ownership of beneficial interests in the Notes and the principal of, and interest on, the Notes (book <br />entry interests) may be transferred only through a book entry, and (ii) a single physical Note <br />certificate is issued by the City and payable only to a Depository or its nominee, with such Notes <br />deposited with and retained in the custody of the Depository or its agent far that purpose. The book <br />entry maintained by others than the City is the record that identifies the owners of book entry <br />interests in the Notes and that principal and interest. <br />"Depository" means any security depository that is a clearing agency under federal law <br />operating and maintaining, with its Participants or otherwise, a book enhy system to record <br />ownership of book entry interests in the Notes or the principal of, and interest on, the Notes and to <br />effect transfers of the Notes, in book entry form, and includes and means initially The Depository <br />Trust Company (a limited purpose trust company), New York, New York. <br />"Participant" means any participant contracting with a Depository under a book entry <br />system and includes security brokers and dealers, banks and trust companies, and clearing <br />corporations. <br />The Notes may be issued to a Depository for use in a book entry system and, if and as long <br />as a book entry system is utilized, (i) the Notes may be issued in the form of a single Note made <br />payable to the Depository or its nominee and deposited with and retained in the custody of the <br />Depository or its agent for that purpose; (ii) the owners of book entry interests shall have no right to <br />receive the Notes in the form of physical securities or certificates; (iii) ownership of book entry <br />interests shall be shown by book entry on the system maintained and operated by the Depository <br />and its Participants, and transfers of the ownership of book entry interests shall be made only by <br />-2- <br />??,?