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Section 22. The Disclosure Agreement, in substantially the form submitted to <br /> this meeting, is approved, and the Mayor is hereby authorized and directed to execute and deliver <br /> the Disclosure Agreement for and on behalf of the City. The Mayor is authorized and directed to <br /> take all action required on the part of the City to fulfill the City's obligations under the <br /> Disclosure Agreement. Any legal fees and other administrative costs incurred by the City in <br /> connection with making the annual report pursuant to the Disclosure Agreement (except audit <br /> fees) shall be considered administrative charges that may be payable from moneys in the Bond <br /> Fund. <br /> Section 23. The Mayor is hereby authorized and directed to work with Friday, <br /> Eldredge & Clark, LLP, as bond counsel, to develop, adopt and implement written procedures to <br /> monitor compliance with federal tax requirements with respect to tax-exempt obligations of the <br /> City. The Mayor is further authorized to appoint a Responsible Person who will have primary <br /> responsibility for monitoring post-issuance tax compliance. <br /> Section 24. The provisions of this Ordinance are separable and in the event <br /> that any section or part hereof shall be held to be invalid, such invalidity shall not affect the <br /> remainder of this Ordinance. <br /> Section 25. All ordinances and resolutions and parts thereof in conflict <br /> herewith are hereby repealed to the extent of such conflict. <br /> Section 26. It is hereby ascertained and declared that the Improvements are <br /> immediately needed for the preservation of the public peace, health and safety and to remove <br /> existing hazards thereto. The Improvements cannot be accomplished without the issuance of the <br /> bonds, which cannot be sold at the interest rates specified herein unless this Ordinance is <br /> immediately effective. Therefore, it is declared that an emergency exists and this Ordinance <br /> being necessary for the preservation of the public peace, health and safety shall be in force and <br /> take effect immediately upon and after its passage. <br /> PASSED: June 26, 2012. <br /> APPROVED: <br /> ATTEST: <br /> or <br /> City Clerk <br /> (SEAL) <br /> 21 <br />