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The expenditure of the amounts necessary to secure any such ratings, as well as to pay the <br />other financing costs (as defined in Section 133.01 of the Revised Code) in connection with the <br />Notes, is hereby authorized and approved and the amounts necessary to pay those costs are hereby <br />appropriated from the proceeds of the Notes. <br />Section 12. The Clerk of Council is directed to deliver a certified copy of this ordinance to <br />the County Auditor. <br />Section 13. This Council determines that all acts and conditions necessary to be done or <br />performed by the City or to have been met precedent to and in the issuing of the Notes in order to <br />make them legal, valid and binding general obligations of the City of North Olmsted have been <br />performed and have been met, or will at the time of delivery of the Notes have been performed and <br />have been met, in regular and due form as required by law; that the full faith and credit and general <br />property taxing power (as described in Section 9) of the City are pledged for the timely payment of <br />the debt charges on the Notes; and that no statutory or constitutional limitation of indebtedness or <br />taxation will have been exceeded in the issuance of the Notes. <br />Section 14. This Council finds and determines that all formal actions of this Council and of <br />any of its committees concerning and relating to the passage of this ordinance were taken, and that <br />all deliberations of this Council and of any committees that resulted in those formal actions were <br />held, in meetings open to the public in compliance with the law. <br />Section 15. This ordinance shall be in full force and effect from and after the earliest time <br />permitted by law. <br />Passed: ~h~~-, 2010 <br />Attest: /~e~~~ <br />Clerk of Council <br />~-r' ~' <br />President of Council <br />Approved: ~- !1 , 2010 <br />~~ <br />` ~.1°`. <br />M yor r <br />-6- <br />