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<br /> <br />Section 10. Ordinance Irrepealable. After the Note is issued, this Ordinance shall <br />constitute an irrevocable contract between the City and the CWCB, and shall be and remain <br />irrepealable until the Note and the interest thereon shall have been fully paid, satisfied, and <br />discharged. No provisions of any constitution, statute, charter, ordinance, resolution or other <br />measure enacted after the issuance of the Note shall in any manner be construed as impairing the' <br />obligations of the City to keep and perform the covenants contained in this Ordinance. <br /> <br />Section 11. Disposition of Ordinance. This Ordinance, upon its fmal passage and <br />adoption, shall be filed in the records kept by the City Clerk for that purpose and shall be <br />authenticated by the signatures of the Mayor and the City Clerk. As soon as practicable after <br />approval on first reading, this Ordinance shall be published in full in a newspaper published <br />within the City with notice that it will be considered for fmal adoption on February 25, 2002. <br />After passage and adoption, this Ordinance will be published by title only with references to the <br />date of initial publication; provided, however, if anY'section'herein shall be amended upon fmal <br />passage, such section shall be published in full. Notwithstanding the foregoing, the Council may <br />order this Ordinance published in full following fmal passage. <br /> <br />Section 12. Declaration of Emergency and Effective Date. The inlmediate <br />effectiveness of this Ordinance after fmal adoption is necessary in order to allow the City to <br />execute the Financing Documents while favorable market conditions exist and in order to enable <br />the City to secure a construction contract for the Project in sufficient time to take advantage of <br />the remaining construction season. This Ordinance is therefore necessary for the inlmediate <br />preservation of the public peace, health, safety and fmancial well-being of the City and an <br />emergency is hereby declared. Pursuant to Section 31-11-105, C.R.S., this Ordinance shall take <br />effect inlmediately upon its passage and adoption. <br /> <br />INTRODUCED, READ, PASSED ON FIRST READING AND ORDERED <br />PUBLISHED THIS 25th DAY OF FEBRUARY, 2002. <br /> <br />FINALLY ADOPTED AND APPROVED AS AN EMERGENCY ORDINANCE <br />THIS 25th DAY OF MARCH, 2002. <br /> <br />(S EAL) <br /> <br />CITY OF IDAHO SPRINGS, COLORADO <br /> <br />...( ~.. ..; ~;:5. <br /> <br />Mayor <br /> <br />ATTEST: <br /> <br />L ~ Alu(llf I!o 12- {J1I1IP-~ <br />City Clerk <br /> <br /> <br />City Attorney <br /> <br />CAK\S4722\402612.02 <br /> <br />-4- <br />