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2 <br />Section 4. The debt charges on the Notes shall be payable in lawful <br />money o£ 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 o£f.ice of National City Banic, Cleveland, Ohio, or at the principal office <br />of a bank ox- trust company requested by the original purchaser of the Notes, <br />provided ttiat such request shall be approved 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 tYre 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 nine months from the date of issuance. <br />If agreed to by the original purchaser, the Notes shall be prepayable without <br />penalty or premium at the option of the City at any t.ime prior to maturity as <br />provided in this ordinance. Prepayment prior to maturity shall be made by <br />deposit with the Paying Agent of the principal amount of the Notes together <br />with interest accrued thereon to the date of prepayment. The City's right of <br />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 <br />or registered mail to the original purchaser of the Notes not less than seven <br />days prior to the date of that deposit, unless that notice is waived by the <br />original purchaser of the Notes. If money for prepayment is on deposit with <br />tkie Paying Agent on the specified prepayment date following the giving of that <br />notice (unless the requirement of that notice is waived as stated above), in- <br />terest on the principal amount prepaid shall cease to accrue on the prepayment <br />date, and upon the request of the Director of Finance the original purchaser <br />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 <br />Finance, in the name of the City and in their official capacities, provided <br />Lhat one of those signatures 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 no Note shall be issued in <br />a denomination less than $100,000 or exchangeable for other Notes in denomina- <br />tion less than $100,000 and that the entire principal amount may be repre- <br />sented by a single note. The Notes shall not have coupons attached, shall be <br />numbered as determined by the Director of Finance and shall express upon their <br />faces t;he purpose, in summary terms, for wYiich they are issued and that they <br />are issued pursuant to tliis ordinance. <br />Section 6. The Notes 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 <br />referred to in Section 3 evidencing that sale, cause the Notes to be prepared, <br />and have tYie Notes signed and delivered, together with a true transcript of <br />proceedings with reference to the issuance of the Notes if requested by the <br />original purchaser, to the original purchaser upon payment of tlie purchase <br />price. The Mayor, ttie Director of Finance, the Clerk of Councii and other <br />City officials, as appropriate, are each aut.horized and directed to sign any <br />transcript certif.icates, financi.al statements and other documents and <br />:instruments and to take such actions as are necessary or appropriate to <br />consummate the transactions contemplated by this Ordinance.