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documents mentioned herein), the acquisition and construction of <br />the Project by the Borrower, the issuance and sale of the Bonds, <br />and the securing of the Bonds under the Indenture. <br />Section 12. 103(b)(6)(D) Election. The City elects to <br />have the provisions of 103(b)(6)(D) of the Internal Revenue Code of <br />1954, as amended, apply to the issue of the Bonds and the Mayor and <br />City Clerk are hereby authorized, empowered, and directed to file <br />such election with the Internal Revenue Service for and on behalf <br />of the City, as issuer of the Bonds. <br />Section 13. Effective Date. This Bond Ordinance shall <br />be in full force and effect immediately upon its adoption by the <br />Common Council and approval by the <br />1s; REAMNC 2-9-31 <br />PUBLIC HE A RING <br />2nd READING <br />NOT APPROVED <br />REFERRED <br />PASSED '+ 3 ° L/' - of I <br />-7- <br />F'LlFD IN CLERK'S OFFICE <br />MAR 4 i° -, <br />Irene Gammon <br />Clrl CLERK, 500TH BEND, INo. <br />