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the same shall be irrevocably pledged for the payment of the principal <br />of and interest on the Notes or the bonds in anticipation of which they <br />are issued, when and as the same falls due; provided, however, that in <br />each year to the extent that revenues are available from other sources <br />for the payment of the Notes and bonds and are appropriated for such <br />purpose, the amount of such direct tax upon all of the taxable property <br />in the City shall be reduced by the amount of such revenues so available <br />and appropriated. <br /> <br /> Section 8. It is hereby determined and recited that all acts, <br />conditions and things necessary to be done precedent to and in the <br />issuing of the Notes in order to make them legal, valid and binding <br />obligations of the City of Lakewood, will have been done and performed <br />in regular and due form as required by law; and that no limitation of <br />indebtedness or taxation, either statutory or constitutional, will have <br />been exceeded in the issuance of said Notes. <br /> <br /> Section 9. The Clerk of Council is hereby directed to forward <br />a certified copy of this ordinance to the County Auditor. <br /> <br /> Section 10. That Mayor and Director of Finance, or either of <br />them, are authorized to prepare, execute and deliver to the original <br />purchaser of the Notes a preliminary and final Official Statement or any <br />other appropriate disclosure document in connection with the sale and <br />delivery of the Notes. <br /> <br /> Section 11. It is found and determined that all formal ac- <br />tions of this Council concerning and relating to the passage of this <br />ordinance were adopted in an open meeting of this Council, and that all <br />such deliberations of this Council and any of its committees that re- <br />sulted in such formal action, were in meeting open to the public, in <br />compliance with all legal requirements including the City's Charter and <br />Codified Ordinances. <br /> <br /> Section 12. This ordinance is hereby declared to be an emer- <br />gency' measure necessary for the immediate preservation of the public <br />peace, property, health, safety and welfare in the City for the reasons <br />set forth and defined in the preamble to this ordinance, and provided it <br />receives the affirmative vote of two-thirds of all members elected to <br />Council, this ordinance shall take effect and be in force immediately <br />upon its adoption by the Council and approval by the Mayor; otherwise, <br />it shall take effect and be in force after the earliest period allowed <br />by law. <br /> <br />Passed: <br /> <br />/ 7 , 1989 <br /> <br />Approved :~/~ <br /> <br />, 1989 <br /> <br />President of Council <br /> <br />Clerk of <br /> <br />134S5/14282C <br /> <br />-3- <br /> <br /> <br />