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<br />compliance is necessary to assure exclusion of interest on the Notes from gross income for federal <br />income tax purposes, and the officers identified above are authorized to take actions with respect to <br />those issues as they are authorized in this Section to take with respect to the Notes. <br />Section 11. The Clerk of Council is directed to deliver a certified copy of this <br />ordinance and a copy of the Certificate of Awazd to the County Auditor. <br />Section 12. This Council deternunes 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 chazges 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 shall be in full force and effect immediately upon its <br />passage and approval by the Mayor. <br />Passed <br />Attest: <br />Approved: 'I(&. / , 1999 <br />? Mayor <br />-g- <br />--.' <br />President of C&fincil <br />`74 ? <br />, <br />"?_J?c_ ?. ?j <br />