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power (as described in Section 9) of the City are pledged for the timely payment of the debt charges <br />on the Notes; and that no statutory or consfitutional limitafion of indebtedness or taxation will have <br />been exceeded in the issuance of the Notes. <br />Section 15. The services of MAS Financial Advisory Services LLC, as financial <br />advisor, are hereby retained. The financial advisory services shall be in the nature of financial <br />advice and recommendations in connection with the issuance and sale of the Notes. In rendering <br />those financial advisory services, as an independent contractor, that firm shall not exercise any <br />administrative discretion on behalf of the City in the formulation of public policy, expenditure of <br />public funds, enforcement of laws, rules and regulations of the State, the City or any other <br />political subdivision, or the execution of public trusts. That firm shall be paid just and <br />reasonable compensation for those financial advisory services and shall be reimbursed for the <br />actual out-of pocket expenses it incurs in rendering those financial advisory services. The <br />Director of Finance is authorized and directed, to the extent they are not paid by the Original <br />Purchaser in accordance with the Note Purchase Agreement, to make appropriate certification as <br />to the availability of funds for those fees and any reimbursement and to issue an appropriate <br />order for their timely payment as written statements are submitted by that firm. <br />Section 16. This Council finds and determines that all formal actions of this Council and <br />any of its committees concerning and relating to the passage of this Ordinance were taken in an <br />open meeting of this Council or committees, and that all deliberations of this Council and any of its <br />committees that resulted in those formal actions were in meetings open to the public, all in <br />compliance with the law. <br />Section 17. This Ordinance is hereby declared to be an emergency measure necessary <br />for the immediate preservation of the public property, health and safety, and to provide for the <br />usual daily operation of municipal departments, and for the further reason that this Ordinance is <br />required to be immediately effective in order to issue and sell the Notes to enable the City to <br />combine the Notes with other notes to be issued by the City into a consolidated note issue and <br />obtain savings in the issuance of the Notes; and provided it receives the affirmative vote of at least <br />five of its members, this Ordinance shall take effect and be in force at the earliest date possible <br />as set forth in Article III, Sections 10 and 13 of the Charter. <br />6 <br />