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accordance with Section 6 of this ordinance (the Certificate of Award) a maturity date for the Notes <br />that is up to thirty days earlier than one year from the date of their issuance. The Notes shall bear <br />interest at a rate not to exceed 3% per year (computed on the basis of a 360 -day year consisting of <br />twelve 30 -day months), payable at maturity or at any date of earlier prepayment as provided for in <br />Section 4 and until the principal amount is paid or payment is provided for. Subject to the <br />limitations set forth in this Section and Section 1, the aggregate principal amount of the Notes to be <br />issued, being the amount determined by the Director of Finance to be necessary for the purpose <br />described in Section 1 and this Section, and the rate of interest the Notes shall bear, shall be <br />established and specified by the Director of Finance in the Certificate of Award. <br />Section 4. The debt charges on the Notes shall be payable in Federal Reserve funds of the <br />United States of America, without deduction for services of the City's paying agent, at the principal <br />corporate trust office of The Huntington National Bank, Columbus, Ohio, or at the designated office <br />of another bank or trust company requested by the original purchaser of the Notes, provided that <br />such request shall be approved by the Director of Finance after determining that the payment at that <br />bank or trust company will not endanger the funds or securities of the City and that proper <br />procedures and safeguards are available for that purpose (the Paying Agent). The Director of <br />Finance is authorized to enter into any agreements determined necessary in connection with <br />obtaining the services of a paying agent for the Notes, after determining that the signing thereof will <br />not endanger the funds or securities of the City. <br />If agreed to by the Original Purchaser (as defined in Section 6), the Notes shall be <br />prepayable without penalty or premium at the option of the City on or after a date to be determined <br />by the Director of Finance in the Certificate of Award as provided in this Ordinance. Prepayment <br />prior to maturity shall be made by deposit with the Paying Agent of the principal amount of the <br />Notes together 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 date of prepayment <br />and the name and address of the Paying Agent, by certified or registered mail to the Original <br />Purchaser and to the Paying Agent not less than seven days prior to the date of prepayment. If <br />money for prepayment is on deposit with the Paying Agent on the specified prepayment date <br />following the giving of that notice, interest on the principal amount prepaid shall cease to accrue on <br />the prepayment date, and upon the request of the Director of Finance, the Original Purchaser shall <br />use its best efforts to arrange for the delivery of the Notes at the designated office of the Paying <br />Agent for prepayment, surrender and cancellation. <br />Section 5. The Notes shall be signed by the Mayor and Director of Finance, in the name of <br />the City and in their official capacities, provided that one of those signatures may be a facsimile. <br />The Notes shall be issued in the denominations and numbers as requested by the original purchaser <br />and approved by the Director of Finance, provided that the entire principal amount may be <br />represented by a single note. The Notes may be issued as fully registered securities (for which the <br />Director of Finance will serve as note registrar) and in book entry or other uncertificated form in <br />accordance with Section 9.96 and Chapter 133 of the Revised Code, with a single physical note <br />certificate representing the entire issue (or the consolidated issue into which it is combined with one <br />or more other note issues of the City in accordance with Section 6), if it is determined by the <br />Director of Finance that issuance of fully registered securities in that form will facilitate the sale and <br />delivery of the Notes. The Notes shall not have coupons attached, shall be numbered as determined <br />-2- <br />