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- 4 - days after issuance of, the Notes, and represents that all other conditions are met for treating the Notes as "qualified tax-exempt obligations" and as not. to be taken into account under subparagraph (D) of Section 265(b)(3) of the Code, without necessity for further des.i.gnation, by reason of subparagraph (D)(ii) of Section 265(b)l3) of the Code. Further, the City represents and covenants that, during any time o.r in any manner as might affect. the treatment of the Notes as "qualified tax-exempt obligations", it has not formed or par- ticipated in the formation of, or benefited from or availed itself of, any entity in order t.o avoid the purposes of subparagraph (C) or (D) of Section 265(b)(3) of the Code, and will not form, participate in the formation of, or benefit from or avail itself of, any such entity. The City further represents that the Notes are not being issued as part of a direct or indirect composite issue that combines issues or lots of tax-exempt obligations of different issuers. Section 11. The Clerk of Council is directed to deliver a certified copy of this ordinance to the County Auditor. Section 12: This Council determines that all acts acid conditions necessary to be done or performed by the City or. to have been rnet 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 t:he time of de:Livery of the Notes have been performed and have been. met, in regular and due form as required by law; that the full f_ait.li, credit and reve- nues o.f_ the City are pledged for the timely payment of the principal of and interest on the Notes; and that no statutory vr. const.i.tt~tional limitation of indebtedness i~r taxation will have been exceeded :in the issuance of the Notes. Section 13. This Council. finds and determines that all formal actions of thi.:> Couneril concerning anal reiat:ing to tide passage of this ordi- nance were taken in an open meeting of this Council and that. all deliberai.ions of this Council and of any committees that resulted in those formal actions were .in meetings open to the public i.n compliance with the law. Section 14. This ordinance is necessary for the immediate preservation and welfare of the City, and for the required to be inunediately effective in which is necessary to enable the City thereby preserve its credit; wherefore, and effect immediately upon its passage Passed : G~~.~..c. -' 1989 Attest : p~~~ _ Clerk of Council declared to be an emergency measure of the public peace, health, safety further reason that this ordinance i.s order to issue and sell the Notes, to timely retire the 1988 Notes and his ordinance shall be in full force rid approval by the Mayor. GCi• P sident of Council Approved: 1989 v Mayor