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-8- <br />Section 12. This Council determines that all acts and conditions necessary to be <br />done or performed by the City or to have been met precedent to and in the issuing of the Notes <br />in order to make them legal, valid and binding general obligations of the City have been <br />performed and have been met, or will at the time of delivery of the Notes have been performed <br />and have been met, in 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 pledged for the timely <br />payment of the debt charges on the Notes; and that no statutory or constitutional limitation of <br />indebtedness or taxation will have been exceeded in the issuance of the Notes. <br />Section 13. This Council finds and determines that all formal actions of this Council <br />concerning and relating to the passage of this ordinance were taken in an open meeting of this <br />Council and that all deliberations of this Council and of any committees that resulted in those <br />formal 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 necessary for <br />the immediate preservation of the public peace, health, safety and welfare of the City, and for <br />the further reason that this ordinance is required to be immediately effective in order to issue <br />and sell the Notes, which is necessary to enable the City to timely retire the 1993 Notes and <br />thereby preserve its credit; wherefore, this ordinance shall be in full force and effect <br />immediately upon its passage and approval by the Mayor. <br />Passed: ~ j 1tt~;~,~. 1994 <br />J <br />fG <br />Attest: ~~~ ~, < ~ j y~~ ~- <br />Clerk of Council <br />Approved: ~~J'-C 1994 <br />r----' <br />~-~ <br />ay <br />~:~~ <br />resident of Council <br />~~~~~ <br />r G~ „~ ~y'G,~r~'c' <br />