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- 5 - <br />Section 12. This Council determines that all acts and conditions <br />necessary to be done or performed by the City or to have been met precedent to <br />and in the issuing of the Note in order to make it a legal, valid and binding <br />general obligation of the City have been performed and have been met, or will <br />at the time of delivery of the Note have been performed and have been met, in <br />regular and due form as required by law; that the full faith and credit and <br />general property taxing power (as described in Section 9) of the City are <br />pledged for the timely payment of the debt charges on the Note; and that no <br />statutory or constitutional limitation of indebtedness or taxation will have <br />been exceeded in the issuance of the Note. <br />Section 13. This Council finds and determines that all formal <br />actions of this Council concerning and relating to the passage of this <br />ordinance were taken in an open meeting of this Council and that all delibera- <br />tions of this Council and of any committees that resulted in those formal <br />actions were in meetings open to the public in compliance with the law. <br />Section 14. This ordinance is declared to be an emergency measure <br />necessary for the immediate preservation of the public peace, health, safety <br />and welfare of the City, and for the further reason that this ordinance is <br />required to be immediately effective in order to issue and sell the Note, <br />which is necessary to enable the City to timely retire the 1991 Note and <br />thereby preserve its credit; wherefore, this ordinance shall be in full force <br />and effect immediately upon its passage and approval by the Mayor. <br />Passed : ~~ ~`-+=~- ~- f~ 19 91 <br />'~7 <br />Attest : <%~ ~ ~~'-'`-~- + ~ .-~.. <br />Jerk of Council <br />Approved: 1991 <br />i <br />ayo <br />President of Council <br />