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and is hereby ordered computed, certified, levied and extended <br />upon the tax duplicate and collected by the same officers, in the <br />same manner and at the same time that taxes for general purposes <br />of each of said years are certified, extended and collected. Said <br />tax shall be placed before and in preference to all items and for <br />the full amount thereof. The funds derived from said tax levies <br />hereby required shall be placed in a separate and distinct fund <br />which, 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, <br />that in each year to the extent that revenues are available from <br />other sources for the payment of the Notes and bonds and are <br />appropriated for such purpose, the amount of such direct tax. upon <br />all of the taxable property in the City shall be reduced by the <br />amount of such revenues so available and appropriated. <br /> <br /> Section 9. It is hereby determined and recited that <br />all acts, conditions and things necessary to be done precedent to <br />and in the issuing of the Notes in order to make them legal, valid <br />and binding obligations of the City of Lakewood, will have been <br />done and performed in regular and due form as required by law; and <br />that no limitation of indebtedness or taxation, either statutory <br />or constitutional, will have been exceeded in the issuance of said <br />Notes. <br /> <br /> Section 10. The Clerk of Council is hereby directed to <br />forward a certified copy of this ordinance to the County Auditor. <br /> <br /> Section 11. 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 12. 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, <br />and that all such deliberations_.of this Council~ and any of its <br />committees that resulted in such formal action, were in meeting <br />open to the public, in compliance with all legal requirements <br />including the City's Charter and Codified Ordinances. <br /> <br /> Section 13. This ordinance is hereby declared to be an <br />emergency measure necessary for ~he 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 />thirds of all members elected to Council, this ordinance shall <br />take effect and be in force immediately upon its adoption by the <br />Council and approval by the Mayor; otherwise, it shall take effect <br />and be in force after the earliest period allowed by law. <br /> <br />1996 <br /> <br /> President of Council <br /> <br />Clerk'o~f Council <br /> <br />M:~BABBIT\14282FRA. 81B 4 <br /> <br /> <br />