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- 5 - <br />not formed or participated in the formation of, or benefited f.rom 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 Notes are not being issued as par.t 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 Cotincil determines Y.hat 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 perfvrmed and have been met, or will <br />at the time of delivery of the Notes have been performed and have been met, in <br />regtilar and due form as required by law; that the full faith and credit and <br />general property taxing power (as descri.bed in Section 9) of the Ci.ty 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 tkie issuance of the Notes. <br />Section 13. This Counci.l finds and deter.mines tliat all formal <br />actions of this Council concerning and relating to ttie 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 />Sect:ion 14. Z'his ordinance is <br />necessary for the immediate preservation <br />and welfare of t}ie City, and for the <br />requi.red to be immediately effective in <br />which is necessary to enable the City <br />thereby preserve its credit; wherefore, <br />and effeci: immediately upon its passage <br />declared to be an emergency measure <br />of the public peace, health, safety <br />furY.her reason that this ordinance is <br />order to issue and sell 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 />? <br />Passed: ? d , 1992 <br />At t e s t: ?? ?'?-a., lM??? <br />Clerk of Counci ? <br />Approved: ? 19, , 1992 <br />V <br />Mayor <br />, <br />I <br />Presid nt of Council <br />, <br />///'? 4f C <br />?.??