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<br />- 5 - <br />itself of, any entity in order to avoid the purposes of subparagraph (C) or <br />(P) of Section 265(b)(3) of the Code, and will not form, participate in the <br />formation of, or benefit from or avail itself of, any such entity. The City <br />further represent:s that the Notes are not being issued as part of a direct or <br />ind.i.rect composite issue that combines issues or lots of tax-exempt <br />obligations of different issuers. <br />Section 11. The Clerk of Council is directed to deliver a certified <br />copy of this ordinance to the County Auditor. <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 Notes in order to make them legal, valid and binding <br />general obligations of the City have been performed and have been met, or will <br />at the time of delivery of the Notes 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 pr.opert.y taxing power (as described in Section 9) of the City are <br />pledged for the timely payment of the debt charges on the Notes; and that no <br />statutory or constitutional limitation of indebtedness or taxation will have <br />been exceeded in the issuance of the Notes. <br />Section 13. This Council finds and determines that all formal <br />actions of this Council concerning and relating to the passage of this ordi- <br />nance were taken in an open meeting of this Council and that all deliberations <br />of this Council and of any committees that resulted in those formal actions <br />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 Notes, <br />which is necessary to enable the City to timely retire the 1990 Notes 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 />_"~. <br />Passed : \. -- ;C ~.:~.~,~~ ~ 1991 <br />Attest : `~.,i~ c-11--~ti. r,~ ~ ~~,~..,.~-,~-_--- <br />~~Acting Clerk cif Council <br />Approved: ~ 1991 <br />Mayor <br />g. /~ a-~-~.,, <br />President of Council <br />