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<br />surfacing; improving Great Northern Boulevard from the southerly limit of the I-480 right-of-way
<br />to the northerly limit of the I-480 right-of-way by constructing sidewalks; improving Benwood
<br />Circle, Blossom Boulevard, Brendan Lane, Bristol Lane, Brookpark Road Extension, Chapel Hill
<br />Drive, Cottonwood Trail, Devon Drive, Dogwood Trail, East Park Drive, Fairfax Lane, Forestwood
<br />Parkway, Kingston Circle, Laurell Lane, Limpert Lane, Linwood Circle, Lisa Lane, Lusandra
<br />Circle, Mazcie Lane, Mazquette Boulevazd, Mary Kay Circle, Mitchell Drive, Newton Circle, Park
<br />Place, Pine Circle, Sanders Lane, Sharon Drive, Spazky Lane, Sudbury Drive, Sweetbriar Drive,
<br />Tree Lane, Waterbury Circle, Winton Park Drive and Woodpark Lane by reconstructing sections of
<br />the pavement base, where necessary; and improving Andorra Drive, Angela Drive, Ashton Circle,
<br />Azalea Lane, Bentley Drive, Camellia Lane, Carla Lane, Carriage Lane, Cedarwood Lane, Curtis
<br />Drive, Danberry Drive, Fairlawn Drive, Gardenia Drive, Kew Drive, Linden Circle, Louann Drive,
<br />Nancy Drive, Nandina Drive, North Court, Oak Circle, Oak Lane, Plumwood Drive, South Court,
<br />Wedgewood Drive, Wisteria Drive and Woodmere Drive by installing street lighting and
<br />underground wiring; in each case together with the necessary appurtenances and work incidental
<br />thereto.
<br />Section 2. The Bonds sha11 be dated approximately September 1, 2000, shall bear
<br />interest at the now estimated rate of 5%2% per year, payable semiannually until the principal amount
<br />is paid, and are estimated to mature in ten annual principal installments that are substantially equal.
<br />The first principal installment is estimated to be payable on December 1, 2001.
<br />Section 3. It is necessary to issue and this Council determines that notes in a maximum
<br />aggregate principal amount of $1,100,000 (the Notes) shall be issued in anticipation of the issuance
<br />of the Bonds and to retire, together with other funds available to the City, the Outstanding Notes.
<br />The Notes sha11 be dated the date of their issuance, and shall mature one year from the date of
<br />issuance; provided that the Director of Finance may, if she determines it to be necessary or
<br />advisable in connection with the sale of the Notes, establish a different maturity date that is up to
<br />seven days less than one year from the date of issuance by setting forth that maturity date in the
<br />certificate awarding the Notes in accordance with Section 6 of this ordinance (the Certificate of
<br />Award). The Notes shall bear interest at a rate not to exceed 5% per year (computed on the basis of
<br />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 shall be determined by the
<br />Director of Finance in the Certificate of Award.
<br />Section 4. The debt charges on the Notes sha11 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 shall be signed by the Mayor and Director of Finance, in the
<br />name of the City and in their official capacities, provided that one of those signatures may be a
<br />facsimile. Subject to the provisions of this Section and Section 6 of this ordinance, the Notes shall
<br />be issued in the denominations and numbers as requested by the original purchaser and approved by
<br />the Director of Finance, provided that the entire principal amount may be represented by a single
<br />note and that no Note sha11 be issued in a denomination less than $100,000 or exchangeable for
<br />other Notes in denominations less than $100,000. The Notes may be issued as fully registered
<br />securities (for which the Director of Finance will serve as note registrar) and in book entry or other
<br />uncertificated form in accordance with Section 9.96 and Chapter 133 of the Revised Code, with a
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