Ord 1996-038 - Laserfiche WebLink

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9/1ft1 to the all or a portion of the amount of the average annual r~ement for the payment of principal and interest with respect to the Bonds, upon a fInding by the City Council that the substitution of a Surety Policy in lieu of depositing cash to the Reserve Fund is cost effective; provided, however, that, so long as the Bonds or any of them are held by the Texas Water Development Board, the City shall not substitute a Surety Policy or Policies 'with respect to the portion of the amotmt to be accumulated in the Reserve Fund attributable to the Bonds without the prior wTÌtten consent of the Texas Water Development Board. ARTICLE XVIII _. PUBLIC MEETING; EMERGENCY DECLARATION Section 18.01. Public Meeting. It is officially fotmd, determined, and declared that the meeting at which this Ordinance has been adopted was open to the public and public notice of the time, place and subject matter of the public business to be considered and acted upon at said meeting, including this Ordinance, was given, all as required by the applicable provisions of Tex. ??V't Code Ann. ch.55 I, as amended. Section 18.02. Emergencv Declaration. The public Ùllportance of this measure and the fact that it is to the best interest of the City to provide fimds for the proposed public Ùllprovements at the earliest possible date, for the immediate preservation of the public peace, health and safety, constitutes and creates an emergency and an urgent public necessity requiring that the Charter rules requiring ordinances to be read on three several days and that no ordinance shall become effective tmtil the expiration of ten (10) days following the date of its fInal passage be dispensed with for the purpose of adopting this Ordinance as an emergency measure; and said Charter rules are hereby dispensed with, and this Ordinance is accordingly passed as an emergency measure, effective and in force immediately upon and after its passage. (Execution Page Follows] - "'1SA.">"""WW"""==IU1Ncr.F>l 35