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<br />instituted and maintained only (i) by a trustee appointed by the holders and <br />beneficial owners of not less than 25% in principal amount of the Notes <br />then outstanding or (ii) by holders and beneficial owners of not less than <br />10% in principal amount of the Notes then outstanding, in accordance with <br />Section 133.25(B)(4)(b) or (C)(1) of the Revised Code, as applicable (or <br />any like or comparable successor provisions). <br />The performance by the City of the Continuing Disclosure <br />Agreement shall be subject to the annual appropriation of any funds that <br />may be necessary to perform it. <br />The Continuing Disclosure Agreement shall remain in effect only for <br />such period that the Notes are outstanding in accordance with their terms <br />and the City remains an obligated person with respect to the Notes within <br />the meaning of the Rule. The obligation of the City to provide the notices <br />of the Specified Events shall terminate, if and when the City no longer <br />remains such an obligated person. <br />Section 3. Section 6 of Ordinance No. 98-47, as passed on May 19, 1998, be and is <br />hereby repealed. <br />Section 4. This Council finds and determines that all formal actions of this Council and <br />of any of its committees concerning and relating to the passage of this ordinance were taken, and <br />that a11 deliberations of this Council and of any committees that resulted in those formal actions <br />were held, in meetings open to the public in compliance with the law. <br />Section 5. This ordinance is declared to be an emergency measure necessary for the <br />immediate preservation of the public peace, health, safety and welfare of the City, and for the <br />further reason that this ordinance is required to be immediately effective in order to issue and sell <br />the Notes, which is necessary to enable the City to timely enter into and carry out its obligations <br />under contracts for the improvement referred to in Section 1 of Ordinance No. 98-47 which is <br />urgently needed to eliminate potential hazards to public health and the environment; wherefore, this <br />ordinance shall be in full force and effect immediately upon its passage and approval by the Mayor. <br />Passed? 7' , 199 <br />Attes <br />Clerk of Coun 1 <br />Approved: ? , 1998 <br />r <br />. Mayor <br />Q• <br />es ent of Qouncil <br />?.,c.?...?- <br />? • ` ?,, ? - <br />-4- <br />? --I-.r?"-? . , :.... ,v,: ,?.,?,y,l?.,?