Ordinance 1986-887 - Laserfiche WebLink

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Ordinance, relating to the authorization, sale, issuance, and delivery of the Bonds, are hereby ratified, approved, and confirmed. Section 28. Approval of Official Statement. The Council hereby approves the Preliminary Official Statement in the form presented at this meeting, and authorizes the preparation of a final Official Statement containing any updated information regarding items described in the Preliminary Official Statement which become known to the City prior to the date of delivery of the Bonds. Copies of the 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 Bonds. Section 29. Ordinance Irrepealable. After the Bonds are issued, this Ordinance shall be and remain irrepealable until the Bonds and the interest accrued thereon shall have been fully paid, satisfied, and discharged. Section 30. Repealer. All ordinances, or parts thereof, in conflict with this Ordinance are hereby repealed, but only to the extent of such conflict. Section 31- Severability. If one or more sections or parts of this Ordinance shall be adjudged unenforceable or invalid, such judgment shall not affect, impair, or invalidate the remaining provisions of this Ordinance, it being the intention that the various provisions hereof are severable. Section 32. Emergency Declaration. Insofar as it is necessary to issue the Bonds immediately in order to take advantage of presently existing interest rates and avoid the effective date of certain proposed federal legislation, which legislation may have a detrimental effect upon the City's ability to issue the Bonds and invest the proceeds thereof, the provisions of this Ordinance are hereby declared to be necessary to the immediate preservation of the public health and safety, and shall become effective upon adoption in accordance with ~31-16-105, C.R.S. - 32 -