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?.. <br />- 8 - <br /> <br />transcript of proceedings for the Notes, setting forth the reasonable expecta- <br />tions of the City regarding the amount and use of all the proceeds of the <br />Notes, the facts, circumstances and estimates on which they are based, and <br />other facts and circumstances relevant to the tax treatment of the interest on <br />and the tax status of the Notes. <br />Each covenant made in this section with respect to the Notes is also <br />made with respect to all issues any portion of the debt service on which is <br />paid from proceeds of the Notes (and, if different, the original issue and any <br />refunding issues in a series of refundings), to the extent such compliance is <br />necessary to assure exclusion of interest on the Notes from gross income for <br />federal income tax purposes, and the officers identified above are authorized <br />to take actions with respect to those issues as they are authorized in this <br />section to take with respect to the Notes. <br />Section 13. The Clerk of Council is directed to deliver a certified <br />copy of this ordinance to the County Auditor. <br />Section 14. This Council determines 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 />general property taxing power (as described in Section 11) of the City are <br />pledged for the timely payment vf the debt charges on the Notes; and ttiat no <br />statutory or constitutional limitation of indebtedness or taxation will have <br />been exceeded in the issuance of the Notes. <br />Section 15. This Council finds 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 <br />deliberations of this Council and of any committees that resulted in those <br />formal actions were in meetings open to the public in compliance with the law. <br />Section 16. This ordinance is declared to be an emergency measure <br />necessary for the immediate preservation of the public peace, health, safety <br />and welfare of the City, and for the further reason that tYiis ordinance is <br />required to be immediately effective in order to issue and sell the Notes, <br />which is necessary to enable the City to timely retire the 1992-A Notes, <br />1992-B Notes and 1992-C Notes and thereby preserve its credit; wherefore, this <br />ordinance shall be in full force and effect immediately upon its passage and <br />approvai by the Mayor. <br />Passed: A-LC-/r--wztJ `?" , 1992 <br />? <br />, <br />A t t e s t: ll,L? Lu., Gi' )ti?c.a..•?,,_.,. ct..-n: L?-- ?_ ?`? ? f''yz- ? <br />c Clerk of Counci President of Council <br />2 <br />Approved: 1992 <br />w? ; ??.e.+...? `D`?.: b '• ?J /r?-.?.,-.L,.?-C.. <br />L-°4>k,)c.t,zl?.c- 11 Mayor