2024-025 Ordinance - Laserfiche WebLink

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the Director of Finance to be necessary for the purpose described in Section 1, and the rete of interest the Notes shall bear, shall be established and specified by the Director of Finance in the Certificate of Award. If agreed to by the Original Purchaser, the Notes shall be prepayable without penalty or premium at the option of the City on any date that is on or after six months following the date of issuance of the Notes, or on or atter a date designated by the Director of Finance in the Certificate of Award (the Prepayment Date). Prepayment prior to maturity shall be made by deposit with the Paying Agent of the principal amount of the Notes together with interest accrued thereon to the Prepayment Date. The City's right of prepayment shall be exercised by delivering a notice of prepayment, stating the Prepayment Date and the time and address of the Paying Agent, to the Original Purchaser and to the Paying Agent not less than seven days prior to the Prepayment Date, unless that notice is waived by the Original Purchaser and the Paying Agent. If money for prepayment is on deposit with the Paying Agent on the Prepayment Date following the giving of that notice (unless the requirement of that notice is waived as stated above), interest on the principal amount prepaid shall cease to accrue on the Prepayment Date, and upon the request of the Director of Finance the Original Purchaser of the Notes shall arrange for the delivery of the Notes at the designated office of the Paying Agent for prepayment, surrender and cancellation. SECTION 4: Payment of Debt Charges; Paving Agent. The debt charges on the Notes shall be payable in Federal Reserve funds of the United States of America, without deduction for services of the City's paying agent, at the designated corporate trust office of The Huntington National Bank, Cincinnati, Ohio, or at the designated office of another bank or trust company requested by the Original Purchaser of the Notes, provided that such request shall be approved by the Director of Finance atter determining that the payment at that bank or trust company will not endanger the funds or securities of the City and that proper procedures and safeguards are available for that purpose; or at the office of the Director of Finance if agreed to by the Director of Finance and the Original Purchaser (the Paying Agent). The Director of Finance is authorized to enter into any agreements determined necessary in connection with obtaining the services of a paying agent for the Notes, after determining that the signing thereof will not endanger the funds or securities of the City. SECTION 5: Execution of Notes: Book Entry System. The Notes shall be signed by the Mayor and Director of Finance, in the name of the City and in their official capacities, provided that one of those signatures may be a facsimile. The Notes shall be issued in the denominations and numbers as requested by the Original Purchaser and approved by the Director of Finance, provided that the entire principal amount may be represented by a single note, and provided further than no Note shall be issued, or exchangeable for other Notes, in a denomination less than $100,000. The Notes may be issued as fully registered securities (for which the Director of Finance will serve as note registrar) and in book entry or other uncertificated form in accordance with Section 9.96 and Chapter 133 of the Revised Code, with a single physical note certificate representing the entire issue (or the consolidated issue into which it is combined with one or more other note issues of the City in accordance with Section 6), if it is determined by the Director of Finance that issuance of fully registered securities in that form will facilitate the sale and delivery of the Notes. The Notes shall not have coupons attached, 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 Ordinance. -2-