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<br />Section 10. Satisfaction of Conditions for Bond Issuance. This Council <br />determines that all acts and conditions necessary to be performed by the City or to have been <br />met precedent to and in the issuing of the Bonds in order to make them legal, valid and binding <br />general obligations of the City of North Olmsted have been performed and have been met, or <br />will at the time of delivery of the Bonds have been performed and have been met, in regular and <br />due form as required by law; that the full faith and credit and general property taxing power (as <br />described in Section 7) of the City are pledged for the timely payment of the debt charges on <br />the Bonds; and that no statutory or constitutional limitation of indebtedness or taxation will have <br />been exceeded in the issuance of the Bonds. <br />Section 11. Comnliance with Open Meeting Requirements. This Council finds <br />and determines that all formal actions of this Council concerning and relating to the passage of <br />this ordinance were taken in an open meeting of this Council and that all deliberations of this <br />Council and of any committees that resulted in those formal actions were in meetings open to <br />the public in compliance with the law. <br />Section 12. Effective Date. This ordinance shall be in full force from and after <br />the earliest time permitted by law. <br />/ <br />Passed: 'I- V- 1996 <br />Attest: <br />Clerk of Cou il <br />Approved: ? 1996 <br />, <br />yor <br />--? <br />? <br />? <br />6-IL" <br />of Council <br />gC3/?? <br />. ? 91j'74 6 <br />? <br />-16- <br />D03:[00523.DOCS.NOR05228]BOND_ORDINANCE NM POL STAT $205.