Ord 1997-031 - Laserfiche WebLink

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I I - explanatlon, m naITatlve form, of the reasons for the amendment and of the Impact of any change m the type of financial mformatIon or operatmg data so provIded. The CIty may also repeal or anlend the provlslOns of thlS ArtIcle lf the SEC amends or repeals the apphcable provislOns of the Rule or any court of fmal JunsdlctlOn enters Judgment that such provlSlons of the Rule are invalId, and the City also may amend the provlSlons of thiS Artlcle m its dlscretlOn m any other manner or CIrcumstance, but m either case only lf and to the extent that the provlSlons of thlS sentence would not prevent an underwnter from lawfully purchasmg or sellmg Bonds m the pnmary offermg of the Bonds. ARTICLE XV SURETY POLICY Section IS 0 I Surety Policy In order to satlsfy in whole or m part the Clty'S obligatlOns Wlth respect to the Reserve Fund provlded m thIs Ordmance, and subject to the provislOns of Section 8 05(b) hereof, the City may purchase from a Surety or Suretles a Surety PolIcy or PolIcies for such Fund, in an amount equal to the all or a portlOn of the amount of the average annual reqwrement for the payment of pnnclpal and mterest WIth respect to the Bonds, lt bemg found and determrned that the SubstltutlOn of a Surety PolIcy m heu of deposltmg cash to the Reserve Fund IS cost effecLlve. ARTICLE XVI PUBLIC MEETING; EMERGENCY DECLARATION SectlOn 16 01 PublIc Meetmg. It IS OffiClally found, determmed, and declared that the meetIng at WhlCh thls Ordmance has been adopted was open to the publIc and publIc notlce of the tune, place and subject matter of the pubhc busmess to be consldered and acted upon at smd meetmg, mcludlllg thlS Ordmance, was glven, all as reqmred by the apphcable provlslons of Tex. Gov't Code Ann. ch.55I, as amended. SectlOn 16.02 Emergency DeclaratlOn. The public Importance of thlS measure and the fact that lt lS to the best mterest of the Clty to provIde funds for the proposed publIc lmprovements at the earlIest possible date, for the immediate preservatlOn of the pubhc peace, health and safety, constitutes and creates an emergency and an urgent public necessity requmng that the Charter rules requmng ordmances to be read on three several days and that no ordinance shall become effectlve until the expiratlon of ten (10) days followmg the date of ltS final passage be dlspensed WIth for the purpose of adoptIng thls Ordmance as an emergency measure, and Said Charter rules are hereby dispensed WIth, and thIs Ordmance IS accordmgIy passed as an emergency measure, effectlve and 111 force lfllrnediately upon and after ItS passage. R:\SANMARIWWSS.97\DOCS\ORDNCE 33