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"Term Bonds"means those Current Interest Bonds designated as such in the Certificate
<br /> of Award, maturing on the Principal Payment Date or Dates set forth in the Certificate of Award,
<br /> bearing interest payable on each Interest Payment Date and subject to mandatory sinking fund
<br /> redemption.
<br /> The captions and headings in this ordinance are solely for convenience of reference and
<br /> in no way define, limit or describe the scope or intent of any Sections, subsections, paragraphs,
<br /> subparagraphs or clauses hereof. Reference to a Section means a section of this ordinance unless
<br /> otherwise indicated.
<br /> Section 2. Authorized Principal Amount and Purpose; Application of Proceeds. It is
<br /> necessary to issue bonds of this City in a maximum aggregate principal amount of $1,270,000
<br /> (the Bonds) to provide funds to pay costs of (i) improving Great Northern Boulevard from
<br /> Brookpark Road to the westbound entrance and exit ramps to I-480, in cooperation with the
<br /> Department of Transportation of the State of Ohio, by widening, constructing, reconstructing and
<br /> rehabilitating the pavement base, preparing the surface, surfacing and resurfacing and installing
<br /> traffic signs and signalization, where necessary, in each case together with the necessary
<br /> appurtenances and work incidental thereto, and (ii) improving Angela Drive, Bellevue Drive,
<br /> Clinton Drive, Croton Drive, Evergreen Drive, Gloucester Drive, Kenny Lane, Linda Drive, Marcie
<br /> Lane, Marquette Boulevard, Michael Avenue, Nantucket Drive, Paisley Drive, Pompton Drive,
<br /> Revere Drive, Shepherd Hill Lane, Westview Drive, Willet Circle and Willet Road between certain
<br /> termini by reconstructing and rehabilitating the pavement base, constructing and reconstructing
<br /> curbs and curb ramps and adjusting catch basins, manholes and utility valve and monument boxes,
<br /> where necessary, preparing the surface and resurfacing, in each case together with necessary
<br /> appurtenances and work incidental thereto, including financing costs related to the issuance of the
<br /> Bonds, and to retire the Outstanding Note.
<br /> Subject to the limitations set forth in this ordinance, the aggregate principal amount of
<br /> the Bonds to be issued,the principal maturities of and the principal payment schedule for the Bonds,
<br /> the interest rate or rates that the Bonds shall bear and certain other terms and provisions of the
<br /> Bonds identified in this ordinance are subject to further specification or determination by the Mayor
<br /> and the Director of Finance in the Certificate of Award upon the finalization of the terms and
<br /> provisions of the Bonds.
<br /> The proceeds from the sale of the Bonds, except any premium and accrued interest,
<br /> shall be paid into the proper fund or funds, and those proceeds are appropriated and shall be used for
<br /> the purpose for which the Bonds are being issued. Any portion of those proceeds representing
<br /> premium and accrued interest shall be paid into the Bond Retirement Fund.
<br /> Section 3. Denominations; Dating; Principal and Interest Payment and Redemption
<br /> Provisions. The Bonds shall be issued in one lot and only as fully registered bonds, in Authorized
<br /> Denominations, but in no case as to a particular maturity date exceeding the principal amount
<br /> maturing on that date. The respective principal amounts of the Bonds to be issued as Current
<br /> Interest Bonds and Capital Appreciation Bonds (if any Bonds are to be issued as Capital
<br /> Appreciation Bonds) shall be determined by the Mayor and the Director of Finance in the
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