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Property. This Council hereby declares the City's official intent to use the lease purchase <br />proceeds to reimburse itself for any such expenditures. This section of this Ordinance is <br />enacted for the purpose of establishing compliance with the requirements of Section 1.150-2 <br />of the U.S. Treasury Regulations. This section of this Ordinance does not bind the City to <br />make any expenditure, incur any indebtedness, or proceed with the purchase of the Leased <br />Property. <br />Section 6. That the Clerk of Council is hereby directed to send certified copy of this <br />Ordinance to KeyBank, Mailcode: OH-Ol-27-1711, 127 Public Square, 17~' Floor, Cleveland, OH <br />44114, attn: Kevin P. Scott. <br />Section 7. All formal actions of this Council relating to the enactment of this Ordinance <br />were taken in an open meeting of this Council, and the deliberations of this Council and any of its <br />committees that resulted in those formal actions, were meetings open to the public, in compliance <br />with all legal requirements, including Section 121.22 of the Ohio Revised Code. <br />Section 8. That this Ordinance is hereby declazed to be an emergency measure necessary <br />for the immediate preservation of the public peace, property, health, safety and welfare in the City <br />and for the usual daily operation of the City for the reasons set forth and defined in the preamble to <br />this Ordinance, and provided it receives the affirmative vote of at least five (5) of its members <br />elected to Council, this Ordinance shall take effect and be in force immediately upon its adoption by <br />the Council and approval by the Mayor otherwise, it shall take effect and be in force after the eazliest <br />period allowed by law. <br />Adopted: _l~(~_ ~,, l6 , 2 oV 5 <br />Approved: ~ °I <br />~-moo ~~ <br />President of Council <br />Cler of Cowl <br />~~ `~ <br />Mayor c <br />