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necessary, be used only for the retirement of the Notes at maturity, <br />together with the interest thereon, and is hereby pledged for such <br />purpose. <br /> <br /> Section 7... During the year or years while the Notes run, <br />there shall be levied on all the taxable property in the City of Lakewood, <br />in addition to all other taxes, a direct tax annually not less than that <br />which would have been levied if bonds had been issued without the prior <br />issue of the Notes. Said tax shall be and is hereby ordered computed, <br />certified, levied and extended upon the tax duplicate and collected by the <br />same officers, in the same manner and at the same time that taxes for <br />general purposes of each of said years are certified, extended and <br />collected. Said tax shall be placed before and in preference to all items <br />and for the full amount thereof. The funds derived from said tax levies <br />hereby required shall be placed in a separate and distinct fund which, <br />together with the interest collected on the same shall be irrevocably <br />pledged for the payment of the principal of and interest on the Notes or <br />the bonds in anticipation of which they are issued, when and as the same <br />falls due; provided, however, that in each year to the extent that <br />assessments or other revenues are available from other sources for the <br />payment of the Notes and bonds and are appropriated for such purpose, the <br />amount of such direct tax upon all of the taxable property in the City <br />shall be reduced by the amount of such assessments or other revenues so <br />available 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 issuing <br /> of the Notes in order to make them legal, 'valid and binding obligations of <br /> the City of Lakewood, will have been done and performed in regular and due <br /> form as required by law; and that. no limitation of indebtedness or <br /> taxation, either statutory or constitutional, will have been exceeded in <br /> 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 /> Section 1__ 0. The Mayor and Fiscal Officer, or either of them, <br />are authorized to prepare, execute and deliver to the original purchaser <br />of the Notes a preliminary and final Official Statement or any other <br />appropriate disclosure documentin connection with the sale and delivery <br />of the Notes. <br /> <br /> Section 11. It is found and determined that all formal <br />actions 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 resulted <br />in such formal action, were in meeting open to the public, in compliance <br />with all legal requirements including the City's Charter and Codified <br />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 /> <br />-3- <br /> <br /> <br />