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- 5 - <br />Section 12. This Council determines that all acts and condi.tions <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 tlie time of delivery of the Nvt.es 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 Notes; and that no <br />statutory or constitutional l.imitation of indebtedness or taxation will have <br />been exceeded in the issuance of the Notes. <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 delibera- <br />tions of this Council and of any committees tliat resulted i.n 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 tlie 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: .? ?j, 1992 <br />;Z ?l <br />At. t e s t: JP?ll?,l?-l?-?ct- <br />I Clerk of Counc'1 <br />l <br />Approved: 1992 <br />Mayor <br />declared to be an emergency measure <br />of the public peace, health, safety <br />furt.her reason that this ordinance is <br />order to issue and sel.l the Notes, <br />to timely retire the 1991 Notes and <br />his ordinance shall. be in full force <br />nd approval by the Mayor. <br />?..?-.-...?.??__ o-?- <br />President of Council <br />i ? <br />