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. - CITY OF N-i OLMSTED <br />ORDINANCE , .. 8(~-57 - 3 - <br /> <br />before and in preference to all other items and for the full amount thereof. <br />The funds derived from said tax levies hereby required shall be placed in a <br />separate and distinct fund, which, together with the interest collected on the <br />same, shall be irrevocably pledged for the payment of the principal of and interest <br />on said notes or the bonds in anticipation of which they are issued, when and <br />as the same fall due. <br />Section 9. It is hereby determined that all acts, conditions and <br />things required to be done precedent to and in the issuance of such notes, in <br />order to make them legal, valid and binding obligations of the City, have <br />happened, been done and performed in regular and due form as required by law; and <br />that no limitation of indebtedness or taxation, whether statutory, charter or <br />constitutional-will have been exceeded in the issuance of such notes. <br />Section 10. The Clerk of this Council is hereby directed to forward <br />a certified copy of this ordinance to the County Auditor. <br />Section 11. It is found and determined that all formal actions of <br />this Council concerning and relating to the passage of this ordinance were <br />adopted in an open meeting of this Council, and that all deliberations of <br />this Council and of any of its committees that resulted in such formal action, <br />were in meetings open to the public, in compliance with all legal requirements <br />including Section 121.22 of the Ohia Revised Code. <br />Section I2. This ordinance is hereby declared to be an emergency <br />measure necessary for the preservation of the public peace, welfare and <br />safety of this City, and for the further reason that the immediate issuance <br />and sale of the notes herein authorized is necessary to provide funds to <br />retire outstanding notes which are about to mature and thereby protect the <br />credit of the City; wherefore, this ordinance shall take effect and be in force <br />immediately upon its passage and approval by the Mayor. <br />PASSED: l <br />ATTEST: <br />Clerk of .Council <br />Florence E. Campbell. <br />ident of Co cil <br />Dewey H. Limpert <br />;; _ ~ _ ..._.- l.J <br />C~ ~ ~ _ , <br />Mayor <br />Robert T•1. Swietyniowski <br />