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Each covenant made in this section with respect to the Bonds is also <br />made with respect to all issues any portion of the debt service on which is <br />paid from proceeds of the Bonds (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 Bonds 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 Bonds. <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 that 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 binding <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 cred.it 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 />statutory or constitutional limitation of indebtedness or taxation wili 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 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 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 />which is necessary to enable the City <br />thereby preserve its credit; wherefore, <br />and effect immediately upon its passage <br />Passed: <br />, 1992 <br />A t t e s t: <br />Clerk of ouncil <br />Approved: a / e? , 1992 <br />or <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 1992 Notes and <br />his ordinance shall be in full force <br />nd approval by the Mayor. <br /> <br />President of Council <br />?-- <br />- 12 - <br />_,, . . .._.. .. .: . , . . _ . ,_..,k?w