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and make or give reports and certifications as may be appropriate <br /> to assure such exclusion of that interest. <br /> <br /> Section 6. The Notes shall be the full general <br /> obligations of the City of Lakewood and the full faith and credit <br /> of said City are hereby pledged for.the prompt payment of the same. <br /> The par value to be received from the sale of the bonds anticipated <br /> by the Notes and any excess fUnds resUlting from the issuance of <br /> the Notes shall, to the extent necessary, be used only for the <br /> retirement of the Notes at maturity, together with the interest <br /> thereon, and is hereby pledged for such 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 <br />Lakewood, in addition to all other taxes, a direct tax annually not <br />less than that which would have been levied if bonds had been <br />issued without the prior issue ~f the Notes. Said tax shall be and <br />is hereby ordered computed, certified, levied and extended upon the <br />tax duplicate and collected by the same ~officers, in the same <br />manner and at the sametime that taxes for~genera1 purposes'of each <br />of said years are certified,' extended and collected. Said tax <br />shall be placed before and in preference to all items and for the <br />full amount thereof. The fund~ derived from Said tax-levies hereby <br />required shall be placed in a separate and distinct fund which, <br />together with the interest collected on the same shall be <br />irrevocably pledged for' the payment of the principal of and <br />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 <br />in each year to the extent that assessments or other revenues are <br />available from other sources for the payment of the Notes and bond's <br />and are appropriated for such purpose, the amount of such direct <br />tax upon all of the taxable property in the City shall be reduced <br />by the amount of such assessments or other revenues so available <br />and appropriated. <br /> <br /> .Section 8. It is hereby determined and recited that all <br />acts, conditions and things necessary to be done precedent to and <br />in the issuing of the Notes in order to make them legal, valid and <br />binding obligations of the City of Lakewood, will have been done <br />and performed in regular and due form as requir~dby law; and that <br />no limitation of indebtedness or taxation, either statutory or <br />constitutional, will have been exceeded in the issuance of said <br />Notes. <br /> <br /> section 9. The Clerk of.Council is hereby directed to <br />forward a certified copy of this ordinance~to the Count~ Auditor. <br /> <br /> .Section 10. The Mayor and Fiscal Officer, or either of <br />them, are authorized to' prepare, execute and deliver to the <br />original purchaser of the Notes a preliminary and final Official <br />Statement or any. other appropriate disclosure document in <br />connection with the sale and delivery 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 <br />this ordinance were adopted in an open meeting of this Council, and <br />that all such deliberations of this Council and any of its <br />committees that resulted in sUch formal action, were in me'ting <br />open to the public, in compliance with all.legal requirements <br />including the City's Charter and Codified Ordinances. <br /> <br /> Section 12. This ordinance is hereby declared to be an <br />emergency measure necessary for the immediate preservation of the <br />public peace, property, health, safety and welfare in the City for <br />the reasons set forth and defined in the preamble to this <br />ordinance, and provided it receives the affirmative vote of two- <br /> <br />-3- <br /> <br /> <br />