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<br />shall be valid and sufficient for all purposes the same as if such officer had remained in office until such <br />delivery. <br /> <br />Section 16.03. Severability. <br /> <br />If any section, article, paragraph, sentence, clause, phrase or word in this Ordinance, or application <br />thereof to any person or circumstance is held to be invalid or unenforceable, the remainder of this Ordinance <br />and the application of such section, article, paragraph, sentence, clause, phrase or word to other persons and <br />circumstances nevertheless shall be valid and enforceable; and it is hereby declared that this Ordinance <br />would have been enacted without such invalid or unenforceable provision. <br /> <br />ARTICLE XVII <br /> <br />EMERGENCY DECLARATION <br /> <br />Section 17.02. Emer!,!:ency Declaration. <br /> <br />The public importance of this measure and the fact that it is to the best interest of the City to provide <br />for the refunding of the Refunded Obligations, thereby restructuring electric utility revenue debt of the City <br />and reducing the debt service requirements on such debt, for the immediate preservation of the public peace, <br />health and safety, constitutes and creates an emergency and an urgent public necessity requiring that the <br />Charter rules requiring ordinances to be read on three several days and that no ordinance shall become <br />effective until the expiration often (10) days following the date of its final passage be dispensed with for the <br />purpose of adopting this Ordinance as an emergency measure; and said Charter rules are hereby dispensed <br />with, and this Ordinance is accordingly passed as an emergency measure, effective and in force immediately <br />upon and after its passage. <br /> <br />[Remainder of page left blank intentionally] <br /> <br />R\San Marcos\EUS Rfdg.02\Docs\Ordinance\FinaJ.wpd <br /> <br />47 <br />