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<br />10 <br />The captions and headings in this Bond Legislation are <br />solely for convenience of reference and do not define, limit or <br />describe the scope or intent of any provisions or Sections of <br />this Bond Legislation. <br />Section 2. Determinations by Leaislative Authority. <br />This Legislative Authority determines that: (i) the Project, <br />taken as a whole, is a "project," as defined in the Act, and is <br />consistent with the purposes of Section 13 of Article VIII, <br />Ohio Constitution; (ii) the utilization of the Project is in <br />furtherance of the purposes of the Act and will benefit the <br />people of the State by creating jobs and employment <br />opportunities and improving the economic welfare of the people <br />of the State; (iii) the Project Bonds will bear interest at a <br />rate lower than the Old Bond; and (iv) provision of the loan to <br />refinance costs of the Project, including without limitation, <br />the financing thereof, will require the issuance, sale and <br />delivery of the Project Bonds in the principal amount of <br />$545,000 and hereafter may require the Issuer's best efforts to <br />issue, sell and deliver Additional Bonds as provided in the <br />Indenture. <br />This Legislative Authority also determines that, <br />following reasonable notice, and prior to adoption of this Bond <br />Legislation, a public hearing was held with respect to the <br />issuance of the Project Bonds, as required by Section 147(f) of <br />the Code. <br />