The President and Board of Trustees shall adopt a bond ordinance or a note ordinance (hereinafter collectively designated as the “Bond Ordinance”) describing the public purpose or purposes to be accomplished by such borrowing and in such Bond Ordinance shall make a finding and determination that such borrowing of money is necessary for the welfare of the government and affairs of the Village, is for a proper public purpose or purposes and is in the public interest, which finding and determination shall be deemed conclusive. Each such Bond Ordinance shall be effective immediately upon its passage, approval, and publication.
(Ord. 99-2172, passed 5-25-99)