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<br />- 5 - <br />"qualified tax-exempt obligations". Further, the City represents and <br />covenants that, during any time or in any manner as might affect the status of <br />"he Notes as "qualified tax-exempt obiigations", it has not formed or <br />participated in t.he formation of, or benefited from or availed itself of, any <br />entity in order to avoid the purposes of subparagraph (C) or (D) of Section <br />265(b)(3) of the Code, and wil.l not form, participate in the formation of, or <br />benefit from or avail itself of, any such entity. The City further represents <br />that the Notes are not being issued as part of a direct or indirect composite <br />issue t.hat combines issues or lots of tax-exempt obligations of different <br />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 property 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 t.his 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 shall be effective from and after the <br />earliest time permitted by law. <br />P a s s e d: /???tf? 4, z , 1993 <br />A t t e s t: <br />qcTi,vG Clerk of Council <br />Approved: 1993 <br />C? <br />Mayor <br />a-K - 4,.".A? <br />l / President of Council <br />/ <br />First Reading: a2 od 3 <br />Second Reading: <br />Third Read' <br />Conmiittee: