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Section 16. Effective Date. This ordinance is hereby declared to be an <br />emergency measure necessary for the immediate preservation of the public peace, <br />property, health, safety and welfare in the City, and for the fin•ther reason that the Notes <br />must be sold promptly in order to retire the Outstanding Notes and preserve the credit of <br />the City; and provided it receives the affirmative vote of at least five of its members <br />elected to Council, this ordinance. shall take effect and be in force immediately upon its <br />passage by the Council and approval by the Mayor; otherwise it shall take effect and be <br />in force a8er the earliest period allowed by law. <br />is hereby repealed. <br />Section 2. It is found and determined that all formal 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 such deliberations of this Council and of any of its committees that resulted <br />in such formal action were in meetings open to the public in compliance with all legal <br />requirements. <br />Section 3. That this ordinance is hereby declared to be an emergency measure necessary <br />for the immediate preservation of the public peace, property, health, safety and welfare in the <br />City and for the usual. daily operation of the City for the reasons set forth and defined in the <br />preamble to this ordinance, and provided it receives the affirmative vote of at least five (5) of its <br />members elected to Council, this ordinance shall take effect and be in force immediately upon its <br />adoption by the Council and approval by the Mayor otherwise, it shall take effect and be in force <br />after the earliest period allowed by law. <br />Adopted: ~_~,( 2(J D <br />Approved: ~j D 9 <br />~9 ~~w.^ <br />President of Co^~unc/jil~ <br />~LjiLG~tn /• (TBcpi~~ <br />Clerk of C uncil <br />r <br />Mayor <br />16 <br />