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951
CITY-OF-BATESVILLE
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4/30/2019 4:50:33 PM
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°4r.r <br />DâșOXIM <br />rM <br />overriding authority of the City Council, all as may be <br />specified in an Ordinance of the City creating the Sanitation <br />Committee. However, the City shall not thereby be relieved <br />of any of its obligations hereunder, except that performance <br />thereof by the Sanitation Committee shall, to that extent, con- <br />stitute performance by the City. <br />Section 27. The City convenants that it shall <br />take no action or suffer or permit any action to be taken <br />or condition to exist which causes or may cause the interest <br />payable on the Bonds to be subject to federal income taxa- <br />tion. Without limiting the generality of the foregoing, the <br />City and the Trustee convenant that the proceeds of the sale <br />of the Bonds will not be used directly or indirectly in such <br />manner as to cause the Bonds to be treated as "arbitrage <br />bonds" within the meaning of Section 103(c) of the Internal <br />Revenue Code of 1954, as amended. <br />Section 28. <br />The provisions of this Ordinance are <br />hereby declared to be severable and if any provision shall <br />for any reason be held illegal or invalid, such holding shall <br />not affect the validity of the remainder of this Ordinance. <br />Section 29. <br />This Ordinance shall not create any <br />right of any kind and no right of any kind shall arise here- <br />under pursuant to it until the Bonds authorized by this <br />Ordinance shall be issued and delivered. <br />Section 30. <br />All ordinances, resolutions and parts <br />thereof in conflict herewith are hereby repealed to the extent <br />of such conflict. <br />
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