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<br />Section 4. The debt charges on the Notes shall be payable in lawful money of the
<br />United States of America, or in Federal Reserve funds of the United States of America if so
<br />requested by the original purchaser, and shall be payable, without deduction for services of the
<br />City's paying agent, at the main office of National City Bank, Cleveland, Ohio, or at the
<br />principal office of a bank or trust company requested by the original purchaser of the Notes,
<br />provided that such request shall be approved by the Director of Finance after determining that
<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 on December 15, 1994. If agreed
<br />to by the original purchaser, the Notes shall be prepayable without penalty or premium at the
<br />option of the City 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 amount of the Notes
<br />together with interest accrued thereon to the date of prepayment. The City's right of prepayment
<br />shall be exercised by mailing a notice of prepayment, stating the date of prepayment and the
<br />name and address of the Paying Agent, by certified or registered mail to the original purchaser
<br />of the Notes not less than seven days prior to the date of that deposit, unless that notice is
<br />waived by the original purchaser of the Notes. If money for prepayment is on deposit with the
<br />Paying Agent on the specified prepayment date following the giving of that notice (unless the
<br />requirement of that 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 Director of Finance
<br />the original purchaser of the Notes shall arrange for the delivery of the Notes at the designated
<br />office of the Paying Agent for prepayment and surrender and cancellation.
<br />Section 5. The Notes shall be signed by the Mayor and Director of Finance, in
<br />the name of the City and in their official capacities, provided that one of those signatures may
<br />be a 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. The Notes shall not have coupons attached, shall
<br />be 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 Section 3 evidencing that sale, cause
<br />the Notes to be prepared, and have the Notes signed and delivered, together with a true
<br />transcript of proceedings with reference to the issuance of the Notes if requested by the original
<br />purchaser, to the original purchaser upon payment of the purchase price. The Mayor, the
<br />Director of Finance, the Director of Law, the Clerk of Council and other City officials, as
<br />appropriate, are each authorized and directed to sign any transcript certificates, financial
<br />statements and other documents and instruments and to take such actions as are necessary or
<br />appropriate to consummate the transactions contemplated by this ordinance. The Director of
<br />Finance is authorized, if it is determined to be in the best interest of the City, to combine the
<br />issue of Notes with one or more other note issues of the City into a consolidated note issue
<br />pursuant to Section 133.30(B) of the Revised Code; provided that if the aggregate principal
<br />amount of any such consolidated note issue is $1,000,000 or more, the notes of the consolidated
<br />issue shall be issued in the denominations of $100,000 each or in any denomination that is the
<br />sum of (i) $100,000 and (ii) $5,000 or any integral multiple thereof, and shall not be
<br />exchangeable for other notes in denominations less than $100,000.
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