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<br />-2- ?a <br />the payment at that bank or trust company will not endanger the funds or securities of the City <br />and that proper procedures and safeguards are available for that purpose (the Paying Agent). <br />The Notes shall be dated the date of issuance and shall mature one year from the date of <br />issuance, provided that the Director of Finance may, if it is determined to be necessary or <br />advisable to the sale of the Notes, establish a maturiry date that is up to seven days less than <br />one year from the date of issuance by setting forth that maturity date in the certificate of <br />award. If agreed to by the original purchaser, the Notes shall be prepayable without penalty or <br />premium at the option of the City at any time prior to maturity as provided in this ordinance. <br />Prepayment prior to maturity shall be made by deposit with the Paying Agent of the principal <br />amount of the Notes together with interest accrued thereon to the date of prepayment. The <br />City's right of prepayment shall be exercised by mailing a notice of prepayment, stating the <br />date of prepayment and the name and address of the Paying Agent, by certified or registered <br />mail to the original purchaser of the Notes not less than seven days prior to the date of that <br />deposit, unless that notice is waived by the original purchaser of the Notes. If money for <br />prepayment is on deposit with the Paying Agent on the specified prepayment date following <br />the giving of that notice (unless the requirement of that notice is waived as stated above), <br />interest on the principal amount prepaid shall cease to accrue on the prepayment date, and <br />upon the request of the Director of Finance the original purchaser of the Notes shall arrange <br />for the delivery of the Notes at the designated office of the Paying Agent for prepayment and <br />surrender and cancellation. <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. The Notes shall be issued in the denominations and numbers as requested by the <br />original purchaser and approved by the Director of Finance, provided that the entire principal <br />amount may be represented by a single note. In addition, the Notes may be issued (i) in the <br />denominations of $100,000 each or (ii) in any denomination that is the sum of $100,000 and <br />$5,000 or any integral multiple thereof, and, if so issued, are not exchangeable for other Notes <br />in denominations less than $100,000. The Notes shall not have coupons attached, shall be <br />numbered as determined by the Director of Finance and shall express upon their faces the <br />purpose, in summary terms, for which they are issued and that they are issued pursuant to this <br />Ordinance. <br />Section 6. The Notes shall be sold at not less than par at private sale by the <br />Director of Finance in accordance with law and the provisions of this ordinance. The Director <br />of Finance shall sign the certificate of award referred to in Sections 3 and 4 evidencing that <br />sale, cause the Notes to be prepared, and have the Notes signed and delivered, together with a <br />true transcript of proceedings with reference to the issuance of the Notes if requested by the <br />original purchaser, to the original purchaser upon payment of the purchase price. The Mayor, <br />the Director of Finance, the Clerk of Council and other City officials, as appropriate, are each <br />authorized and directed to sign any transcript certificates, financial statements and other <br />documents and instruments and to take such actions as are necessary or appropriate to <br />consummate the transactions contemplated by this Ordinance. The Director of Finance is <br />authorized, if it is determined to be in the best interest of the City, to combine the issue of <br />Notes with one or more other note issues of the City into a consolidated note issue pursuant to <br />Section 133.30(B) of the Revised Code. <br />Section 7. The proceeds from the sale of the Notes, except any premium and <br />accrued interest, shall be paid into the proper fund or funds and those proceeds are <br />appropriated and shall be used for the purpose for which the Notes are being issued. Any <br />portion of those proceeds representing premium and accrued interest shall be paid into the <br />Bond Retirement Fund. <br />5ection 8. The par value to be received from the sale of the Bonds or of any <br />renewal notes and any excess funds resulting from the issuance of the Notes shall, to the extent