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ORDINANCE NO. 2006- 32 PAGE 16 <br />Section 16. Effective Date. This ordinance is declared to be an emergency measure <br />necessary for the immediate preservation of the public peace, health and safety of the Village, and <br />for the further reason that this ordinance is required to be immediately effective in order to issue <br />and sell the Bonds and thereby enable the Village to refund at a lower interest cost and redeem the <br />Refunded Bonds upon terms in the best interest of and advantageous to the Village and thereby <br />achieve interest rate savings available under current favorable market conditions and preserve its <br />credit; wherefore, this ordinance shall be in full force and effect i edia ely upon 'ts passage and <br />approval by the Mayor. <br />dl - <br />William Buckholtz, President of Council <br />August 28, 2006 <br />First reading: <br />Second reading: <br />Third read'-2• <br />PASSED: <br />APPROVI <br />APPROVI <br />ATTEST: <br />Suspended <br />Suspended