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{ <br />provided that the Director of Finance may, if she determines it to be necessary or advisable in <br />connection with the sale of the Notes, establish in the certificate awarding the Notes in accordance <br />with Section 6 of this ordinance (the Certificate of Award) a maturity date for the Notes that is up to <br />ninety days eazlier than one year from the date of issuance. The Notes sha11 beaz irnerest at a rate <br />not to exceed 41/20/o per year (computed on the basis of a 360-day year consisting of twelve 30-day <br />moirths), payable at maturity and until the principal amourrt is paid or payment is provided for. The <br />rate of interest on the Notes shall be determined by the Director af Finance in the Certificate of <br />Award. <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 Section 6 of this ordinance, the Notes shall 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 ernire principal amoutrt may be represextted by a single note. The Notes <br />may be issued as fully registered secwities (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 ernire issue <br />(or the consolidated issue irno which it is combined with one or more other note issues of the City in <br />accordance with Section 6), if it is detennined 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, 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 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 irnerests in the Notes and the principal of, and interest on, the Notes (book <br />errtry interests) may be transferred only through a book errtry, 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 for that purpose. The book <br />errtry mairnained by others than the City is the record that idemifies the owners of book errtry <br />interests in the Notes and that principal and iirterest. <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 ot and irnerest 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 />-2- <br />?