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S®ction 7. If default is Heade and continues for <br />thirty days in the payment of any interest coupon, the holder <br />of the bond to which It is attached may declare the same <br />immediately due and payable, and the failure of the holder <br />to exercise this option upon any default shall. not 'be a waiver <br />of his right to exercise the option upon any subsequent default. <br />Section S. It is hereby ascertained and declared that <br />due to they rapid development of air passenger and freight <br />transportation and the great need of the ability to provide <br />adequate facilities for such transportation, and because the <br />lack of a sufficient and well equipped airfield can seriously <br />handicap the city in meetinE any emergency that threatens the <br />health or safety of its inhabitants, this ordinance is necessary <br />for the preservation of public peace, health and safety, and <br />therefore an emergency is declared and this ordinance shall be <br />In full force and take effect immediately upon and after, its <br />passage* <br />ATTEST: <br />Passed: <br />1945 C <br />. <br />Approved: <br />C I ty R,eC Orr ee_r <br />