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y <br /> to take such other actions for and on behalf of the City, as <br /> they deem necessary or proper in connection with the consumma- <br /> tion of such financing including, but not limited to making the <br /> $10 million election pursuant to the requirements of the Inter- <br /> nal Revenue Code. The Mayor and the Clerk of the City are <br /> authorized to arrange for the delivery of said Economic Devel- <br /> opment Revenue Bond to Valley American Bank and Trust Company, <br /> payment for which will be made to the Trustee for the account <br /> of the City. <br /> Section 8 . The City approves the reduction in the in- <br /> terest rate of the 1982 Bonds to 10% per annum and the Mayor <br /> and City Clerk are hereby authorized to execute all requisite <br /> documents to facilitate said interest reduction. <br /> Section 9 . The provisions of this ordinance and the <br /> aforementioned documents shall constitute a contract binding <br /> between the City and the holders of said Economic Development <br /> Revenue Bond, and after the issuance of said Economic Develop- <br /> ment Revenue Bond this Ordinance shall not be repealed or <br /> amended in any respect which would adversely affect the rights <br /> of said holders so long as any of the principal of said Eco- <br /> nomic Development Revenue Bond or the interest thereon remains <br /> unpaid. <br /> Section 10 . All ordinances or parts of ordinances in <br /> conflict herewith are hereby repealed. <br /> -6- <br />