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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. The Notes shall
<br />be dated December 18, 1997, and shall mature on December 17, 1998.
<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
<br />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 />If it is determined by the Director of Finance to be advantageous to the City, the
<br />Notes may be issued as fully registered securities in accordance with Section 133.40 of the
<br />Revised Code and in book entry form in accordance with Section 9.96 of the Revised Code, with
<br />(i) a single physical note certificate representing the entire issue (or the consolidated issue into
<br />which it is combined with one or more other note issues of the City in accordance with Section
<br />6 of this ordinance) registered in the name of a depository or its nominee and deposited with and
<br />retained in the custody of the depository or its agent and (ii) ownership of book entry interests
<br />in the issue being transferrable only through a book entry in a book entry system maintained by
<br />an entity other than the City to identify the owners of those book entry interests. The Director
<br />of Finance is authorized, on behalf of the City, to enter into any agreements determined to be
<br />necessary in connection with any such issuance of the Notes m book entry form after
<br />determining that the signing thereof will not endanger the funds or securities of the City and
<br />after approval of the form of such agreements by the Director of Law.
<br />Section 6. The Notes shall be sold by the Director of Finance at private sale to
<br />NatCity Investments, Inc., Cleveland, Ohio (the Original Purchaser) at not less than 97% of the
<br />aggregate principal amount thereof plus accrued interest, in accordance with law and the
<br />provisions of this ordinance. The Director of Finance shall sign the Certificate of Award
<br />referred to in Section 3 evidencing that sale, cause the Notes to be prepared, and have the Notes
<br />signed and delivered, together with a true transcript of proceedings with reference to the
<br />issuance of the Notes if requested by the Original Purchaser, to the Original Purchaser upon
<br />payment of the purchase price. The Mayor, the Director of Finance, the Director of Law, the
<br />Clerk of Council and other City officials, as appropriate, are each authorized and directed to
<br />sign any transcript certificates, financial statements and other documents and instruments and to
<br />take such actions as are necessary or appropriate to consummate the transactions contemplated
<br />by this ordinance. The Director of Finance is authorized, if he determines it to be in the best
<br />interest of the City, to combine the issue of Notes with one or more other note issues of the City
<br />into a consolidated note issue pursuant to Section 133.30(B) of the Revised Code; provided that,
<br />if the aggregate principal amount of any such consolidated note issue is $1,000,000 or more, no
<br />note of that issue shall be issued in a denomination less than $100,000 or be exchangeable for
<br />other notes in denominations less than $100,000.
<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 appropriated
<br />and shall be used for the purpose for which the Notes are being issued. Any portion of those
<br />proceeds representing premium and accrued interest shall be paid into the Bond Retirement
<br />Fund.
<br />Section 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
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