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The funds derived from said t~)× levie~; hereby required ~;ha]l be placed J.n a <br />separate and distinct fu~d wh~c]~, toRether with the ~uterest colJected on the <br />same shall be irrevocably pledged for the payment of the principal, and interest <br />of said notes or the bonds in anticipation of which they are issued, when and <br />as the same falls due. <br /> <br /> Section 9. It is hereby determined and recited that all. acts, <br />conditions and things necessary to be done precedent to and in the issuing <br />of said notes in order to make them legal, val~.d and binding obllf~ations <br />of the City of Lakewood, have been done and performed in regular and dne <br />form as required by law; and that no limitation of indebtedness or taxation, <br />either statutory or constitutional, wi].l liave been exceeded in the issuance of <br />said notes. <br /> <br /> Section 10. The Clerk of Council is hereby directed to forward a <br />certified copy of this ordinance to the County Auditor. <br /> <br /> Section 11. It is found and determined tibet a].l formal actions of <br />this Council concerning and relating to the pass~ge of this ordinance were <br />adopted in an open meeting of this Council, and that all such deliberations <br />of this Council and of any of its committees that resulted in such formal <br />action, were in meetings open to t:he publi, c, in compliance with all Legal <br />requirements including Section 121.22 of the Ohio Revised Code. <br /> <br /> Section 12. That this ordinance, havin~ been declared to be an <br />emergency measure, shall'be tn full. force and effcct~from and imme~]jate].y after <br />its passage and approval by the Mayor. ~~~~~~~~/.~ . <br />Passed: & 1976 ;{~e ~tent o ffCo~iq~ 1 - .... <br /> <br /> <br />