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CITY OF NORTH Or"STED <br />ORDINANCE N0. 8;)--115 <br />• PAGE THREE <br />1-11N <br />V,,,?+ <br />The funds derived from said tax levies hereby required shall be placed in a <br />separate and distinct fund, which, together with the interest collected on the <br />same, shall be irrevocably pledged for the payment of the principal of and <br />interest on such notes or bonds in anticipation of which they are issued, when <br />and as the same fall due. <br />SECTION 9. That it is hereby determined that all acts, conditions <br />and things required to be done precedent to and in the issuance of such notes, <br />in order to make them legal, valid and binding obligations of the City, have <br />happened, been done and performed in regular and due form as required by law; <br />and that no limitation of indebtedness or taxation, either statutory or con- <br />stitutional, will have been exceeded in the issuance of such notes. <br />SECTION 10. That the Clerk of Council is hereby directed to forward <br />a certified copy of this ordinance to the County Auditor. <br />SECTION 11. That it is hereby found and determined that all formal <br />actions of this Council concerning and relating to the passage of this ordi- <br />nance were adopted in an open meeting of this Council, and that all delibera- <br />tions of this Council and of any of its committees that resulted in such <br />formal action, were in meetings open to the public, in compliance with all <br />legal requirements including Section 121.22, Ohio Revised Code. <br />SECTION 12. That this ordinance is hereby declared to be an emer- <br />gency measure necessary for the immediate preservation of the public peace, <br />health, safetq and welfare of the City, and for the further reason that the <br />immediate issuance and sale of the notes herein authorized is necessary to <br />provide funds to retire the outstanding notes at their maturity and thereby to <br />protect the credit of the City; wherefore, this ordinance shall be in full <br />force and effect from and immediatelq after its passage and approval by the <br />Mayor. <br />Passed: &)6:j, /g" , 1983 <br />Attest: e_A? <br />Clerk of Counc resident of Council <br />App?r__oved: Q 06 f Qr , 1983 <br />6 ¦ . _ ? <br />First reading: <br />Second reading; <br />Third reading: <br />Mayor <br />_ . ? <br />9/20/83 <br />10/4/83 10/18/83