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ORDINANCE NO. 96- 0$ PAGE 11 <br />Section 12. This Council determines that all acts and conditions necessary to be <br />performed by the Village or to have been met precedent to and in the issuing of the Bonds in <br />order to make them legal, valid and binding general obligations of the Village have been <br />performed and have been met, or will at the time of delivery of the Bonds have been performed <br />and have been met, in regular and due form as required by law; that the full faith and credit and <br />general property taxing power (as described in Section 9) of the Village are pledged for the <br />timely payment of the debt charges on the Bonds; and that no statutory or constitutional <br />limitation of indebtedness or taxation will have been exceeded in the issuance of the Bonds. <br />Section 13. This Council finds and determines that all formal actions of this <br />Council concerning and relating to the passage of this ordinance were taken in an open meeting <br />of this Council and that all deliberations of this Council and of any committees that resulted in <br />those formal actions were in meetings open to the public in compliance with the law. <br />Section 14. This ordinance is declared to be an emergency measure necessary for <br />the immediate preservation of the public peace, health and safety of the Village, and for the <br />further reason that this ordinance is required to be immediately effective in order to sell and <br />deliver the Bonds at an early date, which is necessary to enable the Village to refund the <br />outstanding note; wherefore, this ordinance shall be in full force and effect immediately upon <br />its passage and approval by the Mayor. <br />Maf' Fixler,- President of Council <br />First reading: February 19, 1996 <br />Second reading: suspended <br />Third reading <br />Suspended