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which will be issued by the City (and all entities treated as one issuer with the City, and all <br />subordinate entities whose obligations are treated as issued by the City) during this calendar year <br />2007 will not exceed $10,000,000; and <br />(e) not more than $10,000,000 of obligations issued by the City during this <br />calendar year 2007 have been designated for purposes of Section 265(b)(3) of the Code. <br />The City shall use its best efforts to comply with any federal procedural requirements which may <br />apply in order to effectuate the designation made by this paragraph. <br />26. Severability. If any section, paragraph or provision of this resolution shall <br />be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such <br />section, paragraph or provision shall not affect any of the remaining provisions of this resolution. <br />27. Headings. Headings in this resolution are included for convenience of <br />reference only and are not a part hereof, and shall not limit or define the meaning of any <br />provision hereof. <br />The motion for the adoption of the foregoing resolution was duly seconded by <br />Member and, after a full discussion thereof and upon vote being <br />taken thereon, the following voted in favor thereof: <br />and the following voted against the same: <br />Whereupon said resolution was declared duly passed and adopted. <br />Paul J. Hicks. Mayor <br />Melanie Mesko Lee, City Clerk <br />(Seal) <br />2oabzos~~ 20 <br />