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conditions to be provided therein; provided that the terms and conditions of such Bond Purchase Agreement shall have terms and conditions in accordance with the limitations pertaining to the Series 1998 Bonds set forth in Section 5. The Council hereby further ratifies, validates, confirms and approves the Bond Purchase Agreement and the terms, conditions and provisions thereof and with such further terms, provisions and conditions as approved by the officer of the City executing the same. The execution by the City Manager or any Deputy City Manager of any bond purchase agreement relating to the Series 1998 Bonds shall be conclusive evidence that such bond purchase agreement is the Bond Purchase Agreement authorized hereby and that the same complies with all requirements of this Section 4. SECTION 5. Authorization of Issuance of the Series 1998 Bonds. In order to provide the funds for the purpose of financing Project Costs of the Bide-A-Wee Project and the City Park Project as provided for in Section 2.2 of the Trust Indenture, there is hereby authorized to be issued and shall be issued under and secured by the Trust Indenture a series of Bonds to be designated "City of Portsmouth, Virginia, Golf Course System Revenue Bonds, Series 1998", in an aggregate principal amount not to exceed $10,500,000. The Series 1998 Bonds sha[l mature not later that forty (40) years after their date. Subject to the foregoing provisions the Series 1998 Bonds shall mature on the dates and in the principal amounts, shall bear interest at the rates payable on the dates, shall be subject to optional, mandatory and extraordinary redemption and shall otherwise be issued with the details as shall be approved by the City Manager or Deputy City Manager executing the Trust Indenture and as shall be set forth therein; provided that (i) in no event shall the true or Canadian interest cost with respect to the Series 1998 Bonds exceed 71/2%; (ii) in no event shall the redemption premium payable upon the redemption of the Series 1998 Bonds exceed 3 % of the principal amount thereof; and (iii) in no event shall the price at which the Series 1998 Bonds are sold to the Underwriters exceed the principal amount of the Series 1998 Bonds, less an aggregate discount (including underwriting discount and original issue discount) of not greater than 31/2% of the principal amount of the Series 1998 Bonds plus accrued imerest from the date of the Series 1998 Bonds to the date of delivery thereof to, and payment therefor by, the Underwriters. SECTION 6. Form and Execution of the Series 1998 Bonds. The Council hereby approves the Series 1998 Bonds to be in the form to be provided for in the Trust Indenture. The Council hereby authorizes, directs and approves the execution by the Mayor or Vice Mayor and City Clerk, by means of their respective manual or facsimile signatures, of the Series 1998 Bonds and the imprinting on the Series 1998 Bonds of a facsimile or actual impression of, and the impressing on the Series 1998 Bonds of, the corporate seal of the City, in such form and with such changes as the officers executing the same shall approve upon advice of counsel (including the City Attorney or Bond Counsel). The Council hereby approves the issuance of the Series 1998 Bonds in book-entry only form through the facilities of DTC and the registration of the Series 1998 Bonds upon initial issuance in the name of Cede & Co., as nominee of DTC. The Council authorizes the City Manager or any Deputy City Manager to execute and deliver such further documents as shall be necessary or desirable to effect the issuance of the Series 1998 Bonds in book-entry only form: