89-84 Purchase fire truck & motorized equip BAN

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extended and collected. Said tax shall be placed before and in preference to all items and for the full ~nount thereof. The funds derived from said tax levies hereby required shall be placed in a separate and distinct fund which, together with the interest collected on the same shall be irrevocably pledged for the payment of ~he 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 deter~ined and recited that all acts, conditions and things necessary to be done precedent to and in the issuing o£ the Notes in order to ~ake them legal, valid and binding obligations of the City of Lakewood, will. have been done and performed in regular and due for~ as required by law; and that no l~nitation 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 theCounty Auditor. Section I0. That the Hayor 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 ~th the sale and delivery of the Notes. Section 11. It is found and deter~ined that all fornml ac- tions of this Council concerninS and relatinE 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 conmittees thst re- suited in such fo~nal action, were in meeting open to the public, in compliance with all legal requirements including the Cityts Charter and Codified Ordinances and Section 121.22 of the Ohio Revised Code. Section 12. That this ordinance is hereby declared to be an emergency measure necessary for the iu~nediate preservation of the public peace, property, health, safety and welfare in the City for the reasons set forth and defined in the preamble to this ordinance, and provided it receives the affir~ative vote of two-thirds of all members elected to