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mew acceptance shall be filed with the City Clerk and a copy v.r thereof shall be placed in the bond transcript. Any successor Trustee shall have all the powers herein granted to the original Trustee. In the event of a change in the office of Trustee, the old Trustee which has resigned or been removed shall cease to be Paying Agent. Section 32. This Ordinance shall not create any right of any kind and no right of any kind shall arise hereunder pursuant to it until the bonds authorized by this Ordinance shall be issued and delivered. Section 33. If any provision of this Ordinance shall for any reason be declared to be illegal or invalid, such declara- tion shall not affect the validity of the remainder of the *.w provisions of the Ordinance and to that event all provisions of this Ordinance are hereby declared to be severable. Section 34. All ordinances, resolutions and parts thereof in conflict herewith, including specifically any parts of the ordinances and resolutions authorizing and pertaining to the previous bonds, that are in conflict herewith are hereby repealed to the extent of such conflict. Section 35. It is hereby ascertained and declared at an immediate need exists for the refunding of the indebtedness evidenced by the previous bonds, in order that the savings and other significant benefits may be realized. It is, therefore, declared that an emergency exists, and this Ordinance being necessary for the immediate preservation of the public peace, health and safety shall take effect and be in force from and after its passage. PASSED: v �� 1976. r� APPROVED: )e z� ATTEST: Mayor City Clerk - (SEAL)