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<br />23, 1994, which notes were retired at maturiry with the proceeds of $55,000 notes issued in
<br />anticipation of bonds pursuant to Ordinance No. 94-140, passed on September 20, 1994, as a
<br />part of a consolidated issue of $11,755,000 Various Purpose Improvement Notes, Series 1994E,
<br />dated October 18, 1994, which notes were retired at maturity with the proceeds of $55,000 notes
<br />(the 1995C Notes) issued in anticipation of bonds pursuant to Ordinance No. 95-83, passed on
<br />June 6, 1995, as amended by Ordinance No. 95-89, passed on June 6, 1995, as a part of a
<br />consolidated issue of $35,310,000 Various Purpose Improvement Notes, Series 1995, dated June
<br />22, 1995; and
<br />WHEREAS, pursuant to Ordinance No. 93-124, passed on October 19, 1993, notes
<br />in the amount of $50,000 were issued in anticipation of bonds for the purpose of improving City
<br />Hall by converting an existing storage area into a conference room and offices and acquiring
<br />furnishings and equipment therefor, together with the necessary appurtenances thereto, as a part
<br />of a consolidated issue of $545,000 Various Purpose Notes, Series 1993C, dated November 23,
<br />1993, which notes were retired at maturity with the proceeds of $50,000 notes issued in
<br />anticipation of bonds pursuant to Ordinance No. 94-141, passed on September 20, 1994, as a
<br />part of a consolidated issue of $11,755,000 Various Purpose Improvement Notes, Series 1994E,
<br />dated October 18, 1994, which notes were retired at maturity with the proceeds of $50,000 notes
<br />(the 1995D Notes) issued in anticipation of bonds pursuant to Ordinance No. 95-84, passed on
<br />June 6, 1995, as amended by Ordinance No. 95-89, passed on June 6, 1995, as a part of a
<br />consolidated issue of $35,310,000 Various Purpose Improvement Notes, Series 1995, dated June
<br />22, 1995; and
<br />WHEREAS, the 1995A Notes, the 1995B Notes, the 1995C Notes and the 1995D
<br />Notes were retired at maturity with the proceeds of $355,000 notes (the Outstanding Notes)
<br />issued in anticipation of bonds ursuant to Ordinance No. 96-82, passed on May 9, 1996, as a
<br />part of a consolidated issue of ?42,435,000 Various Purpose Improvement Notes, Series 1996,
<br />dated June 19, 1996, which Outstanding Notes are to mature on December 19, 1996; and
<br />WHEREAS, this Council fmds and determines that the City should issue the Bonds
<br />described in Section 2 to provide funds to retire the Outstanding Notes and up to an additional
<br />$10,000 to pay financing costs in connection therewith; and
<br />WHEREAS, the Director of Finance as fiscal officer of this City has certified to this
<br />Council that the estimated life or period of usefulness of each class of the improvements
<br />described in Section 2 is at least five years and that the maximum maturity of the Bonds
<br />described in Section 2 is fifteen years;
<br />NOW, THEREFORE, BE IT ORDAINED by the Council of the City of North
<br />Olmsted, Cuyahoga County, Ohio, that:
<br />Section 1. Definitions and Interpretations. In addition to the words and terms
<br />elsewhere defined in this ordinance, unless the context or use clearly indicates another or
<br />different meaning or intent:
<br />"Annual Information" means annual financial information and operating data of the
<br />type to be specified in the Continuing Disclosure Certificate in accordance with the Rule.
<br />"Authorized Denominations" means (a) with respect to Capital Appreciation Bonds,
<br />if any, the denomination equal to the original principal amount that, when interest is accrued and
<br />compounded thereon on each Interest Accretion Date to the stated maturity of those Bonds, will
<br />equal a Maturity Amount of $5,000 or any integral multiple thereof and (b) with respect to
<br />Current Interest Bonds, the denomination of $5,000 or any integral multiple thereof.
<br />-2-
<br />D03: [00523.DOCS.NOR05228]BOND_ORDINANCE_CIT_ADM_$365.
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