Ordinance 1990-1027 - Laserfiche WebLink

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Section 7. Ratification. All action heretofore taken by the Issuer and by the officers thereof not inconsistent herewi th directed toward the amendment of the Bond is hereby ratified, approved and confirmed, Section 8. Repealer. All acts, orders, resolutions, ordinances or parts thereof, taken by the Issuer and in conflict wi th this Ordinance are hereby repealed to the extent of such conflict, except that this repealer shall not be construed so as to revive any act, order, resolution, ordinance or part thereof, heretofore repealed. Section 9. Severability. If any part or parts of this Ordinance, except Section 5 hereof, are for any reason held to be invalid, such decision shall not affect the validity of the remaining portions hereof. The Council hereby declares that it would have passed this Ordinance and each part or parts irrespective of the fact 1:hat anYone part or parts, except Section 5 hereof, be declared invalid. Section 10. Recording and Authentication. Immediately on its passage this Ordinance shall be recorded in the Ordinance Book of the City kept for that purpose,. authenticated by the signatures of the Mayor and City Clerk, and shall be published in accordance with law. Section 11. Emergency Declaration. By reason of the fact that Klister Properties is in default under its payment obligations under the Loan Agreement and the Lender wishes to complete the sale of :the Pro:j ect and the assignment of such Loan Agreement to the Borrower as soon as possible in order to ensure that the Borrower will locate within the City of Louisville, it is hereby declared that an emergency exists. Section 12. Emergency. The City Council hereby finds, determines, and declares that. this Ordinance is necessary to the immediate preservation of the public peace, health, and safety. - 23 -