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Section 16. Effective Date. This ordinance is hereby declared to be an emergency <br />measure necessary for the immediate preservation of the public peace; property, health, safety <br />and welfare in the City, and for the further reason that the Notes must be sold promptly in order <br />to take advantage of favorable interest rates; and provided it receives the affirmative vote of at <br />least five of its members elected to Council, this ordinance shall take effect and be in force <br />immediately upon its passage by the Council and approval by the Mayor; otherwise it shall take <br />effect and be in force after the earliest period allowed by law. <br />Passed: March ~ 2009 <br />Approved: March ~ 2009 <br />-15- <br />62!25!2009 Cleveland 12025682 <br />President of Council <br />