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health, welfare, convenience, or prosperity for the City to accept the Proposal and to issue and sell the BAN to the Bank. The City Representative, without further approval of the City Council as to documentation or otherwise, may accept the Proposal on behalf of the City and execute and deliver the BAN in accordance with paragraph 8 of this Ordinance to the Bank; provided that the principal amount of the BAN shall not exceed $30,000,000, the term to maturity thereof shall not exceed three years, and the true interest cost thereon shall not exceed [six percent (6%)]. The BAN shall be issued and sold upon such other terms and conditions contained in this Ordinance to the extent not inconsistent with this paragraph 15. The provisions of paragraph 2 of this Ordinance shall apply to the BAN in the same manner as they apply to the Bonds. The BAN shall be in substantially the form presented at this meeting, with such appropriate variations, omissions and insertions as are permitted or required by this Ordinance. There may be endorsed on the BAN such legend or text as may be necessary or appropriate to conform to any applicable rules and regulations of any governmental authority or any usage or requirement of law with respect thereto. The approval of the final terms and conditions of the BAN subject to the foregoing parameters shall be evidenced conclusively by the execution and delivery of the BAN in accordance with paragraph 8 of this Ordinance. The BAN may be extended or refinanced from time to time by or at the direction of the City Representative, provided that no extension or refinancing matures later than five years from the date of the original issuance of the BAN. 16. Further Actions. The City Representative and such other officers and agents of the City as the City Representative may designate, are authorized and directed to take further -9-