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Section 13. If in her judgment it is appropriate, the Director of Finance is authorized to <br />request a rating for the Notes from Moody's Investors Service, Inc., Standard & Poor's Ratings <br />Service or Fitch IBCA, or two or all of those rating agencies, as she determines is in the best interest <br />of the City. <br />Section 14. This Council determines that all acts and conditions necessary to be done or <br />performed by the City or to have been met precedent to and in the issuing of the Notes in order to <br />make them legal, valid and binding general obligations of the City of North Olmsted have been <br />performed and have been met, or will at the time of delivery of the Notes have been performed and <br />have been met, in regular and due form as required by law; that the full faith and credit and general <br />property taxing power (as described in Section 9) of the City are pledged for the timely payment of <br />the debt charges on the Notes; and that no statutory or constitutional limitation of indebtedness or <br />taxation will have been exceeded in the issuance of the Notes. <br />Section 15. This Council finds and determines that all formal actions of this Council and of <br />any of its committees concerning and relating to the passage of this ordinance were taken, and that <br />all deliberations of this Council and of any committees that resulted in those formal actions were <br />held, in meetings open to the public in compliance with the law. <br />Section 16. This ordinance shall be in full force and effect from and after the earliest time <br />permitted by law. > 2' <br />Passed: W , 2005 <br />Attest: - �x- a,.. ---- <br />Clerk of Counc' <br />Approved: Al , 2005 <br />el- <br />Mayor <br />President o Coun <br />