92-030 Ordinance - Laserfiche WebLink

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- 2 - Section 4. The debt charges on the Notes shall be payable in lawfu]. money of ttie United States of America, or in Federal Reserve f«nds of ttie United States of America if so reqtaested by the original purchaser, and shall be payable, wi.tYiout deduction for services of_ ttie City's paying agent, at the main office of National City Bank, Cl.eveland, Ohio, or at the principal office of a bank or trust company requested by the original purchaser of the Notes, provided that such request shal.l be approved by the Director of Finance after determi.ning that the payment at that bank or trust company will. not endanger the funds or securities of the City and that proper pr.ocedures and safeguards are ava3lable for that purpose (the Faying Agent). The Notes sha.11 be dated the date of issuance and shall mature on December 20, 1992. If agreed to by the original purchaser, the Notes shall be prepayable withoiat penalty or premium at the option of the City at any time prior to maturity as provided i.n this ordinance. Prepayment prior to maturity sha11 be made by deposit with the Paying Agent of the principal amount of the Notes together with interest accrued thereon to the date of prepayment. The City's right of prepayment sliall be exercised by maili.ng a notice of prepayment, sY.at.ing ttie date of prepayment and tlie name and address of the Paying Agent, by certified or registered mail to the original purcliaser of the Notes not less ttian seven days prior to the date of that deposit, unless that notice is waived by ttie original purchaser of the Notes. If money for prepayment is on deposit with the Paying Agent on the specified prepayment date following the giving of Y.hat notice (unless the reyiiirement of that notice is wa.ived as stated above), interest on the principal amount prepaid shall ceasP to accrue on the prepayment date, and upon the request of ttie Director of Finance the original purchaser of the Notes shall arrange for the deli.very of the Notes at the designated office of the Paying Agent for prepayment and surrender and cancellation. Secti.on 5. The Notes shall be signed by t;tie Mayor and Director of Finance, in the name of the City and in their official capacities, provided that one of those signatttres may be a facsimile. The Notes shail be issued in the denominations and numbers as requested by the original purchaser and approved by t.he Director of Finance, provi.ded that no Note shal.l be issued in a denomination less than $100,000 or excliangeable for other Notes in denomi.na- tions less than $100,000 and that the entir.e principal amount may be repre- senY.ed by a single note. The Notes shall not Ilave coupons attacYied, shall be numbered as determined by the Director of Finance and shall express upon their faces the purpose, in summary terms, for which they are issued and that they are issued pursuant to this Ordinatice. Section 6. The Notes shall be sold at not less than par at pr:ivate sale by the Director of Finance in accordance with law and ttie provisions of this ordinance. The Director of Finance shall sign the certificate of award referred i;o in Section 3 evidenci.ng that sale, cause the Notes to be prepared, and have the Notes signed and delivered, toget.her with a true transcript of proceedings with reference to the issuance of the Notes if requested by ttie original purchaser, to ttie original purchaser upon payment of the plzrchase price. The Mayor, the Director of Finance, ttie Clerk of Council and other City officials, as appropriate, are each authorized and d.i.rected to sigii any