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2 3 ,4 5 6 7 8 9 10 12 13 14 15 i6 18 19 2O 2! 22 23 24 25 26 27 29 30 3i 32 CITY ATTORNEY RIVERe, IOE CALl FORNIA ORDINANCE NO. 500i AN oRDINA~NCE OF T~E ~I~ 0F RIVERSIbE, CAL!pORNIA, RELATING TO T~E ISSUANCE AND SALE OF REVENUE BONDS. WHEREAS, Sectio~ 1108 of the Charter of the city of Riverside, relating to the Creation and refunding of bonded indebtedness of the City, provid~s-.that the city may, by procedural ordinance of the city Council or pursuant to state law, issue revenue bonds without an election for any City purpose or purposes, and, any'other provisions of the Charter of the City of Riverside notWithstanding, make such covenants and exercise Such powers as are deemed necessary in connection with the issuahce and sale of such revenue bonds; and WHEREAS, in order to establish procedures for the issuance and sale of such bonded indebtedness this City CoUncil deems it advisable to adopt a procedural ordinance; NOW, THEREFORE, the City CoUncil of the City of Riverside DOEs ORDAIN as follows: Section 1: The City Council, exercising the powers~ reserved to the City under Section 5 of Article XI of the ConstitUtion Of the State of California and pursuant to Section 1108 of the Charter of the City of Riverside, may, when the public interest and necessity require, by resolution or resolutions, issue and sell revenue bonds for any CitY purpose or purposes. Section 2: Except as otherwise expressly provided in the Charter of the City of Riverside, the procedure for the issuance of such bonds shall be the procedure set forth in the Revenue Bond Law of 1941 (commencing with Government Code Section 54300), and by this reference, with the exceptions hereinafter stated, the provisions of said Law are incorporated herein~ provided, however, that (a) No election to authorize the issuance of said bonds