2005-168 Ordinance - Laserfiche WebLink

Home Browse Search

reimbursement and to issue an appropriate order for their timely payment as written statements are submitted by that firm. Section 12. The Clerk of Council is directed to deliver a certified copy of this ordinance to the County Auditor. Section 13. If in her judgment it is appropriate, the Director of Finance is authorized to request a rating for the Notes from Moody's Investors Service, Inc., Standard & Poor's Ratings Service or Fitch IBCA, or two or all of those rating agencies, as she determines is in the best interest of the City. Section 14. This Council determines that all acts and conditions necessary to be done or performed by the City or to have been met precedent to and in the issuing of the Notes in order to make them legal, valid and binding general obligations of the City of North Olmsted have been performed and have been met, or will at the time of delivery of the Notes have been performed and have been met, in regular and due form as required by law; that the full faith and credit and general property taxing power (as described in Section 9) of the City are pledged for the timely payment of the debt charges on the Notes; and that no statutory or constitutional limitation of indebtedness or taxation will have been exceeded in the issuance of the Notes. Section 15. This Council finds and determines that all formal actions of this Council and of any of its committees concerning and relating to the passage of this ordinance were taken, and that all deliberations of this Council and of any committees that resulted in those formal actions were held, in meetings open to the public in compliance with the law. Section 16. This ordinance shall be in full force and effect from and after the earliest time permitted by law. Passed: 0 , 2005 Attest: / / Clerk of Council Approved: 'r- Z _ s-,t'> , 2005 Mayor M Pr�esiden(o Council it I cp- L,vQiK.tJL•