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Said tax shall be placed before and in preference to all items and for the full amount thereof. The funds derived from said tax levies hereby required shall be placed in a separate and distinct fund which, together with the i~terest collected on the same shall be irrevocably pledged for the payment of the principal of and interest on the Notes or the bonds in anticipation of which they are issued, when and as the same falls due; provided, however, that in each year to the extent that revenues are available from other sources for the payment of the Notes and bonds and are appropriated for such purpose, the amount of such direct tax upon all of the taxable property in the City shall be reduced by the amount of such revenues so available and appropriated. Section 8. It is hereby determined and recited that all acts, conditions and things necessary to be dine precedent to and in the issuing of the Notes in order to make them legal, valid and binding obligations of the City of Lakewood, will have been done and performed in regular and due form as required by law; and that no limitation of indebtedness or taxation, either statutory or constitutional, will have been exceeded in the issuance of said Notes. Section 9. The Clerk of Council is hereby directed to forward a certified copy of this ordinance to the County Auditor. Section 10. The Mayor and Director of Finance, or either of them, are authorized to prepare, execute and deliver to the original purchaser of the Notes a preliminary and final Official Statement or any other appropriate disclosure document in connection with the sale and delivery of the Notes. Section 11. It is found and determined that all formal ac- tions of this Council concerning and relating to the passage of this ordinance were adopted in an open meeting of this Council, and that all such deliberations of this Council and any of its committees that re- -5-