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?.?.t <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 sha11 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. 98-48, 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hereby repealed.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 Ciry, and for the <br />furkher 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 refened to in Section 1 of Ordinance No. 98-48 which is <br />urgently needed to promote the efficient provision of City services and eliminate potential hazards <br />to the environment; wherefore, this ordinance shall be in fu11 force and effect immediately upon its <br />passage and approval by the Mayor. <br />Passed <br />Attest: <br />Approved: , 1998 <br />Mayor <br />-4- <br />?ot C;ouncil <br />Yresi e4 <br />c"I d <br />?-y,_.? L..?e. ?..,,•Le,.? ,, ?-L?.? <br />?_ . . <br />l r--;7 7LC??€ <br />? - <br />:r:.?.?r.,. : . ?.v?wrr ,,.,? . . .:.... .. . ..a,«,: . . . _;r. , ,•w:a: