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<br /> 11711¡J <br /> or Sureties a Surety Policy or Policies for such Fund, in an amount equal to the all or a portion of the amount of <br /> the average annual requirement for the payment of principal and interest with respect to the Bonds, it being found <br /> and determined that the substitution of a Surety Policy in lieu of depositing cash to the Reserve Fund is cost <br /> effective; provided, however, that so long as the Bonds or any of them are held by the Texas Water Development <br /> Board, the City shall not substitute a Surety Policy or Policies with respect to the portion of the amount to be <br /> acannulated in the Reserve fund attributable to the Bonds without the prior written consent of the Texas Water <br /> Development Board. <br /> ARTICLE XVIII <br /> PUBLIC NŒETING; ENŒRGENCY DECLARATION <br /> Section 18.01. Public Meeting. <br /> It is officially found, determined, and declared that the meeting at which this Ordirumce has been adopted <br /> was open to the public and public notice of the time, place and subject matter of the public business to be <br /> considered and acted upon at said meeting, including this Ordinance, was given, all as required by the applicable <br /> provisions of Tex. Gov't Code Ann. ch.551, as amended. <br /> Section 18.02. Emergencv Declaration. <br /> The public importance of this measure and the fact that it is to the best interest of the City to provide <br /> funds for the proposed public improvements at the earliest possible date, for the immediate preservation of the <br /> public peace, health and safety, constitutes and creates an emergency and an urgent public necessity requiring that <br /> the 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 with, <br /> and this Ordinance is acœrdingly passed as an emergency measure, effective and in force immediately upon and <br /> after its passage. <br /> (Execution Page Follows] <br /> IL \SA. 'lUAA \ ww.u. "" ~ ~ "" 36 <br />