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acknowledge, and del/vet to the T~ustee in trust for ~e holders of the N~ <br />~s a ~o~ a~ s~ficie~ ~ppleme~al l~e~u~ in such form a~ Co~a~- <br />i~ such te~, co~ts, a~ co~itio~, nct inco~istent ~th t~s 0~i- <br />~nce o~ the ~e~e or ~ O~i~nce, as s~ be appro~ by the orlg~l <br />p~c~sers a~ by the D~ector of L~ of the City, so t~% sai~ N~ ~s ~y <br />be sec~ed by ~he pledge of re~es prodded for in the ~e~ure, a~ ~y <br />~ dec.re8 and become ~ue a~ ~ble in the ~r a~ with the ~fect <br />p~vi4ed by sai~ ~e~e as so su~le~nted a~ so t~% the form of t~ N~ <br />Bo~s ~y ~ as p~e~ in ~ supplemental i~ent~ applicable %he.to, <br />~ t~ officers of the City a~ authorized a~ di~cted to t~e a~ action <br />~cessa~ or pro. r, a~ co~iste~ with the te~ of t~s Ordi~nce, 'of t~ <br />~ ~i~nce a~ of the ~entu~ to effe~ the exertion, authe~ication. <br />deli~, issue, a~ sale of the N~ ~s to the origi~l p~cba~ers, in- <br />cludi~ ~thou~ i~lied ~ation, the fu~s~ of the cert~icates, <br />stateS.s, opi~o~, a~ o2her i~t~s ~q~red by the Bo~ Ordi~Ce <br />or the ~ent~, or t~s Ordnance in co~ection ~th the iss~nce of the <br />New ~s. <br /> <br /> The City shall, by issuance of the New Bonds. agree with the holders <br /> thereof that it will acquire marketable title to the real estate described <br /> in the preambles hereto for the purposes of construction of %he Project, <br /> subject only to the liens, easements, encumbrances or exceptions set forth <br /> in the preambles hereto, and that, eXcept as aforesaid, such marketable <br /> title will be free from liens or encnmbrances whic]~ would interfere with <br /> the full use and enjoyment thereof by %he City or by or on behalf of the <br /> bondholders or Tx~astee a~ an off-street ~arking facility, and that, with <br /> respect to such real estate so acquired, the ~ity will furnish title insur- <br /> ance .or title guarantee issued by a title company satisfactory <br /> [~urmng o~ g~r~tee[ng the title to ~Uch real estate sUbject to the Trustee <br /> only to liens, <br /> encumbrances, easements or exceptions of the type hereinbefore referred to. <br /> <br /> Section 7. Se~arabilit7 of Provisio.,ns. Each section of this Ordinance <br />rand each subdivis~n of an~ section thereof is hereby declared to be inde- <br />pendent. 'and the finding or holding of an~ section or subdivision of ar~ <br />section thereof to be i~.v-~lid or void shall not be deemed or held to affect <br />~the validity of any other section or subdivision of this Ordinance. <br /> <br /> Section 8o This Ordinance is hereby declared to Be an emergency meastu~' <br />for the reasons stated in the preamble hereto and, provided it receives the <br />afffirmative vote of two-thirds of all members elected to Council, it shall <br />tak~ effect and be in force immediately upon its adoption and approval by <br /> <br />Adopted: October 6 . 1958 <br /> <br />Approved: October 6 . 1958 <br /> <br />_~s/ John Gaydps, Jr. <br /> Vice President of CounCil <br /> <br />. Ho A, ees <br /> Clerk of Council ' <br /> <br />~/s/ Frank P. Celeste <br /> Mayor- · <br /> <br />2f <br /> <br /> <br />