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? - 5 - ``... <br />represents and covenants that, during any time or in any manner as might <br />affect the status of the Notes as "qualified tax-exempt obligations", it has <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 />format.ion of, or benefit from or avail itself of, any such entity. The City <br />further represents that the Notes are not being issued as part of a direct or <br />indirect composite issue that combines issues or lots of tax-exempt obliga- <br />tions of different issuers. <br />Section 11. The Clerk of Council is directed to deliver a certified <br />copy of this ordinance to the County Auditor. <br />Section 12. This Council deterrnines that all acts and conditions <br />necessary to be done or performed by the City or to have been met precedent to <br />and in the issuing of the Notes in order to make them legal, valid and binding <br />general obligations of the City have been performed and have been met, or will <br />at the time of delivery of the Notes 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 />genera.l property taxing power (as described in Section 9) of the City are <br />pledged for the timely payment of the debt charges on the Notes; and that no <br />statutory or constitutional limitation of indebtedness or taxation will have <br />been exceeded in the issuance of the Notes. <br />Section 13. This Council f.inds and determines that all formal <br />actions of this Council 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 the City, and for the <br />required to be immediately effective in <br />wtiich is necessary to enable the City <br />thereby preserve its cr.edit; 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 Notes, <br />to timely retire the 1989 Notes and <br />his ordinance shall be in full force <br />nd approval by the Mayor. <br />Passed: 2LOLI ?S 1990 <br />, <br />A t t e s t: <br />Acting Clerk of Council <br />?. ? <br />President of Council <br />Approved : 1990 <br />? <br />Mayor