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. ;?. <br />? <br />- 10 - <br />not formed or participated in the formation of, or benefited from or availed <br />itself of, any entity in order to avoid the purposes of subparagraph (C) or <br />(D) of Section 265(b)(3) of the Code, and will not form, participate in the <br />formation of, or benefit from or avail itself of, any such entity. The City <br />further represents that the Bonds are not being issued as part of a direct or <br />indirect composite issue that combines issues or lots of tax-exempt <br />obligations of different issuers. <br />Section 11. The Clerk of Council is directed to deliver a certified <br />copy of this ordinance and of the Certificate of Award to the County Auditor. <br />Section 12. This Council determines ttiat all acts and conditions <br />necessary to be performed by the City or to have been met precedent to and in <br />the issuing of the Bonds in order to make them legal, valid and bindi.ng <br />general obligations of the City have been performed and have been met, or will <br />at the time of delivery of the Bonds have been performed and have been met, in <br />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 <br />pledged for the timely payment of the debt charges on the Bonds; and that no <br />sCatutory or constitutional limitation of indebtedness or taxation will have <br />been exceeded in the issuance of the Bonds. <br />Section 13. This Council finds and determines that all formal <br />actions of this Councii concerning and relating to the passage of this <br />ordinance were taken in an open meeting of this Council and that all delibera- <br />tions of this Council and of any committees that resulted in those formal <br />actions were in meetings open to the public in compliance with the law. <br />Section 14. This ordinance is <br />necessary for the immediate preservation <br />and welfare of this City and for the <br />required to be immediately effective in <br />which is necessary to enable the City <br />thereby preserve its credit; wherefore, <br />and effect immediately upon its passage <br />declared to be an emergency measure <br />of the public peace, health, safety <br />further reason that this ordinance is <br />order to issue and sell the Bonds, <br />to timely retire the 1990 Notes and <br />his ordinance shall be in full force <br />nd approval by the Mayor. <br />Passed: L%(/LY I / , 1990 <br />Attest: ? <br />ting Clerk of Council <br />Approved: 1990 <br />Ma <br />• ??-?1-- k 'A <br />?,. <br />President of Council