11-96 Furnishings & Equip Bonds $316,800

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to take any and all actions, make calculations and rebate payments, and make or give reports and certifications as may be appropriate to assure such exclusion of that interest. Section 7. The Fiscal Officer is authorized and directed to execute a continuing disclosure certificate (the "Disclosure Certificate") setsing forth the City's undertaking to provide annual reports and notices of certain events dated the date of de!ivery of the Notes and delivered to the original purchaser of the Notes for the benefit of the holders of the Notes (the "Noteholders") and to assist the original purchaser in complying with S.E.C. Rule !5c2-12(b) (5). The City hereby covenants and agrees that it will comply with and carry out all of the provisions of the Disclosure Certificate. Failure of the City to comply with the Disclosure Certificate shall not be considered an event of default; however, any Noteholder may take such actions as may be necessary and appropriate to cause the City to comply with its obligations under this Section. Section 8. The Notes shall be the full general obligations of the City of Lakewood and the full faith and credit of said City are hereby pledged for the prompt payment of the same. The par value to be received from the sale of the bonds anticipated by the Notes and any excess funds resulting from the issuance of the Notes shall, to the extent necessary, be used only for the retirement of the Notes at maturity, together with the interest thereon, and is hereby pledged for such purpose. Section 9. During the year or years while the Notes run, there shall be levied on all the taxable property in the City of Lakewood, in addition to all other taxes, a direct tax annually not less than that which would have been levied if bonds had been issued without the prior issue of the Notes. Said tax shall be and is hereby ordered computed, certified, levied and extended upon the tax duplicate and collected by the same officers, in the same manner and at the same time that taxes for general purposes of each of said years are certified, extended and collected. 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 interest 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 10. It is hereby determined and recited that all acts, conditions and things necessary to be done 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 11. The Clerk of Council is hereby directed to forward a certified copy of this ordinance to the County Auditor. Section 12. The Mayor and Fiscal Officer, 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. -3-