51-06 Issuance/Sale of Water System Revenue Bonds $12,500,00

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that all deliberations of this Legislative Authority and of any of its conímittees that resulted in those fonnal actions were in meetings open to the public, in compliance with al11egal requirements, including Section 121.22 of the Revised Code. Section 13 Findings and Recitals ofValiditv. It is hereby detern:rined, represented and recited that all acts, conditions and things necessary to be done precedent to and in the issuance of the Series 2006 Bonds in order to make such Series 2006 Bonds legal, valid and binding special obligations of the Issuer ha;"e, or prior to the delivary thereof will have, happened, beeu done and perfonued iu regular and due form as required by law and the Issuer's Charter; and that no limitation of indebtedness or taxation, either statutory or constitutional, is applicable to the Series 2006 Bonds or their issuance. It is further found and determined, and is hereby represented and recited, that the provisions of the Issuer's Charter, the rules of the Legislative Authority and its ordinances and resolutions have been fully complied with and that this Series 2006 Bond Legislation was passed in confonuity ilierewith. Section 14. Governing Law. The provisions of this Series 2006 Bond Legislation, the Third Supplemental Indenture and the Fourth Supplemental Indenture are subject to the làws of the State of Ohio. Section 15. Severability. Each section of this Series 2006 Bond Legislation and each subsection or provision of any section is hereby declared to be independent, and the finding or holding that any section or any subsection or provision of any section is invalid or void shall not be deemed or held to affect the validity of any other section, subsection or provision of this Series 2006 Bond Legislation. Section 16. Effective Date. This Series 2006 Bond Legislation is hereby declared to be an emergency measure necessary for the immediate preServation of the public peace, property, health, safety and welfare within the Issuer for the reasons set forth and defined in the preamble to this ordinance; and provided it receives the affinnative vote of at least five (5) of its members elected to Council, this Series 2006 Bond Legislation shall take effect and be in force immediately upon its passage by the Council and approval by the Mayor; otherwise it shall take effect and be in force after the earliest period allowed by law. Adopted: t~ '3. hJð-6 President Approved: #V1~ ~/ ~O(,