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<br />application and to provide to that company or companies the information required for the <br />purpose, Tills Council hereby authorizes and approves the expenditure of the amounts necessary <br />to secure such insurance and authorizes and directs the Fiscal Officer to provide for the payment <br />of those amounts ITom any funds lawfully available that-are appropriated for that purpose. <br /> <br />SECTION 12" The Fiscal Officer is hereby authorized to apply, if he deems it <br />appropriate, for a rating on the Bonds from one or more nationally recognized rating services <br /> <br />SECTION 13. The Fiscal Officer is authorized and directed to execute a <br />continuing disclosUfê:'certificate (the "Disclosure Certificate") setting forth the Citÿ's <br />undertaking to provide annual reports and notices of certain events dated the date of delivery of <br />the Bonds and delivered to the Original Purchaser for the beuefit of the boudholders and to assist <br />the Original Purchaser in complying with S,EC Rule 15c2-12(b)(5) The City hereby coveuants <br />and agrees that it will comply with and carry out all of the provisions of the Disclosure <br />Certificate, Failure of the City to comply with the Disclosure Certificate shall not be considered <br />an event of default; however, any Bondholder may take such aétions as may be necessary and <br />appropriate to cause the City to comply with its obligations under this Section <br /> <br />SECTION 14. The Fiscal Officer, as fiscal officer of the City, is hereby directed <br />to forward a certified copy of this Ordiuance to the County Auditor <br /> <br />SECTION IS It is hereby detenniued that all acts; conditions and thíugs <br />necessary to be done- precedent to and in and for the issuing of the Bonds in order to make them <br />legal, valid and bíuding obligatious of the City have been perfonned in regular and due fonn as <br />required by law; that the full faith and credit of the City shall be and are hereby irrevocably <br />pledged for the prompt paymeut of the principal and interest thereof at maturity; and that uo <br />limitation of indebtedness ot taxation, either sta~!ory or constitutiomtl, wUI be exceeded in <br />issuìng the Bonds <br /> <br />SECTION 16, It is found and determined that all fonnal actions of this Council <br />concerning and relating to the passage of this Ordinance were adopted in an open meeting of this <br />Council, and that all deliberations of this Council and of any of its committees that resulted in <br />such fonnal action, were in meetings open to the public, in compliance with all legal <br />requirements, including the Cìty's Charter and Codified Ordinances and Sectiou 12122 of the <br />Ohio Revised Code <br /> <br />SECTION 17 This Ordinance is hereby declared to be an emergency measure <br />necessary for theirnmediate preservation of the public peace, property. health, 'safety and welfare <br />íu the City for the reasons set forth and defined in the preamble to this Ordinance, and provided <br />it receives the affirmative vote of two-thirds. (2/3) of all members elected to Council, this <br />Orçlinance shall take effect and be in force immecliately upon its passage by the Council and <br />approval by the Mayor; otherwise it shall take effect and be in force ITom and after the earliest <br />period allowed by law, <br /> <br />Passed: 0" A~ Ii , 2005 <br />T <br /> <br />~.~' <br /> <br />President of Council <br /> <br />APProVed:~ ~ ,2005 <br /> <br />'-1M ~ Î' .i-;I~ <br />Clerk of uncil <br /> <br />~'~~ <br /> <br />{CTOl24;l} <br /> <br />9 <br />