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make them legal, valid and binding general obligations of the City of North Olmsted have been <br />performed and ha.ve been met, or will at the time of delivery of the Notes have been performed and <br />have been met, in regulaz 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 13. This Council finds and deternunes 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 14. This ordinance is declared to be an emergency measure necessary for the <br />immediate preservation of the public peace, health, safety and welfaze of the City, and for the <br />further reason that this ordinance is required to be immediately effective in order to issue and sell <br />the Notes, which is necessary to enable the City to timely retire the Outstanding Notes and thereby <br />preserve its credit; wherefore, this ordinance sha11 be in full force and effect immediately upon its <br />passage and approval by the Mayor. <br />?21sVu Z'A'Km?? <br />? Mayor <br />-8- <br />?; ' <br />President of Co il <br />` -} .,c.ta? ?? -? • 5/ 3 <br />x- 6e- rU t., e?- <br />.?.-??? <br />Approved: " " 1999