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??. <br />Awazd). The Notes shall bear interest at a rate not to exceed 5'/Z% per yeaz (computed on the basis <br />of a 360-day year consisting of twelve 30-day months), payable at maturity and until the principal <br />amount is paid or payment is provided for. Subject to the limitations set forth herein, the aggregate <br />principal amount of the Notes issued and the rate of interest on the Notes sha11 be determined by the <br />Director of Finance in the Certificate of Award. <br />Section 4. The debt charges on the Notes shall be payable in Federal Reserve funds of <br />the 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 sha11 be signed by the Mayor and Director of Finance, in the <br />name of the City and in their official capacities, provided tha.t one of those signatures may be a <br />facsimile. Subject to the provisions of Section 6 of this ordinance, the Notes sha11 be issued in the <br />denominations and numbers as requested by the original purchaser and approved by the Director of <br />Finance; provided that the entire principal amount may be represented by a single note. The Notes <br />may be issued as fully registered securities (for which the Director of Finance will serve as note <br />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 fu11y <br />registered securities in that form will facilitate the sale and delivery of the Notes. The Notes sha11 <br />not have coupons attached, shall be numbered as determined by the Director of Finance and sha11 <br />express upon their faces the purpose, in summary terms, for which they aze 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 and retained in the custody of the Depository or its agent for that purpose. The book entry <br />maintained by others than the City is the record that identifies the owners of book entry interests in <br />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 entry 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 />-2- <br />,e?:????..,..