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for the Notes, setting forth the reasonable expectations of the City regarding the amount and use of <br />all the proceeds of the Notes, the facts, circumstances and estimates on which they are based, and <br />other facts and circumstances relevant to the tax treatment of the interest on and the tax status of the <br />Notes. <br />Section 11. The Clerk of Council is directed to deliver a certified copy of this <br />ordinance to the County Auditor. <br />Section 12. 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 13. This Council determines that all acts and conditions necessary to be done <br />or 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 14. This Council finds and determines that all formal actions of this Council <br />and of any of its committees concerning and relating to the passage of this ordinance were taken, <br />and that all deliberations of this Council and of any committees that resulted in those formal actions <br />were held, in meetings open to the public in compliance with the law. <br />Section 15. This ordinance shall be in full force and effect from and after the earliest <br />time permitted by law. <br />Passed: �i , 2005 <br />Attest:u -a- <br />Clerk of Council <br />Approved: , 2005 <br />Mayor <br />�dYGE a(�l�r�C) <br />' J <br />President of Co 1 <br />