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- 2 - <br />pay that principal amount. The rate or rates of interest on the Notes shall <br />be determined by the Director of Finance in the certificate awarding the Notes <br />in accordance with Section 6 of this ordinance. <br />Section 4. The debt charges on the Notes shall be payable in lawful <br />money of the United States of America, or in Federal Reserve funds of the <br />United States of America if so requested by the original purchaser, and shall <br />be payable, without deduction for services of the City's paying agent, at the <br />main office of National. City Bank, Cleveland, Ohio, or at the principal office <br />of a bank or trust company requested by the original purchaser of the Notes, <br />provided that such request shall be a.pproved by the Director of Finance after <br />determining that the payment at that bank or trust company will not endanger <br />the funds or securities of the City and that proper procedures and safeguards <br />are available for that purpose (the Paying Agent). The Notes shall be dated <br />the date of issuance and shall mature not earlier than eight months and not <br />later than nine months from the date of issuance, as determined by the <br />Director of Finance in the certificate awarding the Notes in accordance with <br />Section 6 of this ordinance. If agreed to by the ori.ginal purchaser, the <br />Notes shall be prepayable without penalty or premium at the option of the City <br />at any time prior to maturity as provided in this ordinance. Prepayment prior <br />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 <br />prepayment. The City's right of prepayment shall be exercised by mailing a <br />notice of prepayment, stating the date of prepayment and the name and address <br />of the Paying Agent, by certified or registered mail to the original purchaser <br />of tYie Notes not less than seven days prior to the date of that deposit, <br />unless that notice is waived by the original purchaser of the Notes. If money <br />for prepayment i.s on deposit with the Paying Agent on the specified prepayment <br />date following the giving of that notice (unless the requirement of that <br />notice is waived as stated above), interest on the principal amount prepaid <br />shall cease to accrue on the prepayment date, and upon the request of the <br />Director of Finance the original purchaser of the Notes shall arrange for the <br />delivery of the Notes at the designated office of the Paying Agent for <br />prepayment and surrender and cancellation. <br />Section 5. The Notes shall be signed by the Mayor and Director of <br />Finance, in the name of the City and in their official capacities, provided <br />that one of those signatur.es may be a facsimile. The Notes shall be issued in <br />the denominations and numbers as requested by the original purchaser and <br />approved by the Director of Finance, provided that the entire principal amount <br />may be represented by a single note. In addition, the Notes may be issued (i) <br />in the denominations of $100,000 each or (ii) in any denomination that is the <br />sum of $100,000 and $5,000 or any integral multiple thereof, and, if so <br />issued, are not exchangeable for other Nvtes in denominations less ttian <br />$100,000. The Notes shall not have coupons attached, shall be numbered as <br />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 <br />pursuant to this Ordinance. <br />Section 6. The NoLes shall be sold at not less than par at private <br />sale by the Director of Finance in accordance with law and the provisions of <br />this ordinance. The Director of Finance shall sign the certificate of award