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system for the Notes, after determining that the signing thereof will not endanger the funds or
<br />securities of the City.
<br />Section 6. The Notes sha11 be sold by the Director of Finance at private sale to NatCity
<br />Investments, Inc., Cleveland, Ohio (the Original Purchaser), at a purchase price not less than 97% of
<br />par plus accrued interest, in accordance with law and the provisions of this ordinance. In
<br />accordance with her determination of the best interest of the City and the amount required far the
<br />purpose set forth in Section 1(including payment of financing costs in connection with the Notes),
<br />and based on conditions then existing in the financial mazkets, the Director of Finance shall sign the
<br />Certificate of Award to establish and specify the aggregate principal amount of the Notes to be
<br />issued, the interest rate the Notes are to bear, the final purchase price of the Notes and other fmal
<br />terms of the Notes in accordance with the provisions of this ordinance and evidence the sale of the
<br />Notes to the Original Purchaser. Thereafter, the Director of Finance shall cause the Notes to be
<br />prepared, and have the Notes signed and delivered, together with a true transcript of proceedings
<br />with reference to the issuance of the Notes if requested by the Original Purchaser, to the Original
<br />Purchaser upon payment of the purchase price. The Mayor, the Director of Finance, the Clerk of
<br />Council, the Director of Law, 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 documents
<br />and instruments and to take such actions as are necessary or appropriate to consummate the
<br />transactions contemplated by this ordinance. The Director of Finance is authorized, if it is
<br />determined to be in the best interest of the City, to combine the issue of Notes with one or more
<br />other note issues of the City into a consolidated note issue pursuant to Section 133.30(B) of the
<br />Revised Code; provided that, if the aggregate principal amount of any such consolidated note issue
<br />is $1,000,000 or more, no note of that issue sha11 be issued in a denomination less than $100,000 or
<br />be exchangeable for other notes in denominations less than $100,000.
<br />If in the judgment of the Mayor and the Director of Finance a disclosure document
<br />in the form of an official statement is appropriate relating to the original issuance of the Notes,
<br />either or both of those officers, on behalf of the City and in their official capacities, are authorized to
<br />(i) prepare or cause to be prepared, and make or authorize modifications, completions or changes of
<br />or supplements to, such an official statement, (ii) determine, and to certify or otherwise represent,
<br />when the official statement is to be "deemed final" (except for permitted omissions) by the City as
<br />of its date or is a final official statement for purposes of SEC Rule 15c2-12(b)(1), (3) and (4), (iii)
<br />use and distribute, or authorize the use and distribution of those official statements and any
<br />supplements thereto in connection with the original issuance of the Notes, and (iv) complete and
<br />sign those official statements as so approved together with such certificates, statements or other
<br />documents in connection with the finality, accuracy and completeness of those official statements.
<br />Section 7. The proceeds from the sale of the Notes, except any premium and accrued
<br />interest, shall be paid into the proper fund or funds and those proceeds are appropriated and shall be
<br />used for the purpose for which the Notes are being issued. Any portion of those proceeds
<br />representing premium and accrued interest shall be paid into the Bond Retirement Fund.
<br />Section 8. The par value to be received from the sale of the Bonds or of any renewal
<br />notes and any excess funds resulting from the issuance of the Notes shall, to the extent necessary, be
<br />used to pay the debt charges on the Notes at maturity and are pledged for that purpose.
<br />Section 9. During the year or years in which the Notes are outstanding, there shall be
<br />levied on all the taxable property in the City, in addition to all other taxes, the same tax that would
<br />have been levied if the Bonds had been issued without the prior issuance of the Notes. The tax shall
<br />be within the 11.1-mill limitation provided by the Charter of the City, shall be and is ordered
<br />computed, certified, levied and extended upon the tax duplicate and collected by the same officers,
<br />in the same manner, and at the same time that taxes for general purposes for each of those years are
<br />certified, levied, extended and collected, and shall be placed before and in preference to all other
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