95-127 Ordinance - Laserfiche WebLink

Home Browse Search

-4- thereon or assisting compliance with requirements for that purpose, reducing the burden or expense of such compliance, reducing the rebate amount or payments of penalties, or making payments of special amounts in lieu of making computations to determine, or paying, excess eamings as rebate, or obviating those amounts or payments, as determined by that officer, which action shall be in writing and signed by the officer, (b) to take any and all other actions, make or obtain calculations, make payments, and make or give reports, covenants and certifications of and on behalf of the City, as may be appropriate to assure the exclusion of interest from gross income and the intended tax status of the Notes, and (c) to give one or more appropriate certificates of the City, for inclusion in the transcript of proceedings for the Notes, setting forth the reasonable expectations of the City regarding the amount and use of all the proceeds of the Notes, the facts, circumstances and estimates on which they are based, and other facts and circumstances relevant to the tax treatment of the interest on and the tax status of the Notes. Section 11. The Clerk of Council is directed to deliver a certified copy of this ordinance and a signed copy of the certificate of award to the County Auditor. Section 12. 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 have been performed and have been met, or will at the tune 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 mdebtedness or taxation will have been exceeded in the issuance of the Notes. Section 13. This Council finds and determines that all formal actions of this Council conceming and relating to the passage of this ordinance were taken in an open meeting of this Council and that all deliberations of this Council and of any committees that resulted in those formal actions were in meetings open to the public in compliance with the law. Section 14. This ordinance is declared to be an emergency measure necessary for the immediate preservation of the public peace, health, safety and welfare of the City, and for the further reason that this ordinance is required to be immediately effective in order to issue and sell the Notes, which is necessary to enable the City to pay timely the final judgment rendered against it; wherefore, this ordinance shall be in full force and effect immediately upon its passage and approval by the Mayor. . Passed: /7, 1995 Attest: O'ne?' a o-C-? President of Council ??'_t*r?_ ? ,Le. ,? ? ?• ? ? ? ?.f ?-? (? f?r?t. r rrt,E..??a-x.?-- • ?,,? .,t/?L, ?? t ? Clerk of D03: [00523.DOCS.NOR05224]7UDGMENT_ORD.