Ordinance 1988-959 - Laserfiche WebLink

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an option to purchase the Project (i.e., the maximum term of the Lease) does not exceed the useful life of the Golf Course. Section 10. Designation as "Qualified Tax-exempt Obligations". The City hereby designates the Lease and the Certificates as "qualified tax-exempt obligations" for purposes of Section 265(b) (3) of the Internal Revenue Code of 1986, as amended. Section 11. Official statement. The Preliminary Offi- cial Statement relating to the issuance of the Certificates is hereby approved in the form presented at this meeting, and authorizes the preparation of a final Official Statement to be distributed in conjunction with the Certificates, which final Official Statement shall contain any updated information regarding items described in the Preliminary Official Statement which becomes known to the City prior to the date of delivery of the Certificates. Copies of said Preliminary Official Statement and ~ final Official statement are hereby authorized to be distributed by the Underwriter to all interested persons in connection with the sale of the Certificates. section 12. Severability. I f any section, paragraph, clause, or provision of this ordinance shall for any reason be held to be invalid or unenforceable, the invalidity or unenforce- ability of such section, paragraph, clause, or provision shall not affect any of the remaining provisions of this ordinance, the intent being that the same are severable. section 13. Repealer. All orders, ordinances, bylaws, and regulations, of the City, or parts thereof, inconsistent with this ordinance, are hereby repealed to the extent only of such inconsistency. Section 14. Recording, Authentication, and Publication. This ordinance, immediately on its final passage, shall be recorded in the City Book of Ordinances kept for that purpose, shall be authenticated by the signatures of the Mayor of the City and the City Clerk, and shall be published in accordance with law. - 8 -