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Section 9. During the year or years while the Notes run. there shall be levied on <br />all the taxable propers, in the City, of Lakewood, in addition to all other taxes, a dime: tax <br />annually not less than that .which would have been levied if bonds had been issued without the <br />prior issue of' the 'Notes. Said tax shall be and is hereby ordered computed, certified, levied and <br />extended upon the tax duplicate and collected by the same offkev:, in the same manner and at the <br />~me time that taxes for general purposes of each of said year~ are certified, extended and <br />collected. Said tax shall be placed before and in preference to all items and for the full amount <br />thereof, The funti~ derived fi'om said tax levies hereby required shall be placed in a separate and <br />distinct fi.md which, togetherwith the inter~'t cotleemd on the wmae flaall be in~vocably pledged <br />for the payment of the principal of and intere~ on the Notes or the bon~ in anticipation of which <br />they are i~m~t, when and ~ the same ~I~ due; provided, however, t.~ in each year to the <br />extent that re~ m'~ available from other som'e,~ for the ly~tment of the Notes end bond~ and <br />ax~ alzfm~pfiated for ~aeh purpose, the amount of such direct tax u~on all of the taxable propew] <br />in the City shall be reduced by the amount of ~gh revenue~ ~o available and appropriated. <br /> <br /> ~ecfign I0. It is hereby determined and recited that all acts, conditions and things <br />nec~sary to be done pr~edent to and in the issuing of the Noms in order to make them legal, <br />v~lid ami b/rating obligations of the City of ~ood, ~ have been done and performed in <br />regular and due form as required by law; and that no limitation of indebtedness or taxation, either <br />statutory or constinrtional, will have been exceeded in the issuanc~ of said Notes. <br /> <br />Sect/on I 1., The Clerk of Council is hereby directed to forward a certified copy of <br />to the County Auditor. <br /> <br /> Section 12. The Mayor and Fiscal 0ffic~r, or either of them, are authorized to <br />prepare, execute and deliver to the or/~! purchaser of the Not~ a preliminary and final <br />Offichl Statement or any other appropriate disclosure document in connection with the sale and <br />delivery of the Notes. <br /> <br /> Section 13. It is found and deterred.ed that ali formal actions of this Council <br />conc~fing and re!~n~ to the passage of ~ or~n,nce were passed in an open me,~ting of this <br />Council, and that ail such' deh'berations of this Council and any of~ com,,~ittees that re.suited in <br />such formal action, were in meetings open to ,the public, in compliance with all legal <br />requirements including the City's Charter and Codified Ordinances. <br /> <br /> ~ection I~. This ordinance is hereby declared to be an emergency measure <br />nece~ary for the immediate preservation of the public pct..e, property, health, safety and welfare <br />in the City for the t~ons set forth and ~ in the pre~mble to ti~ ord/nanen, and prov/d~ it <br />rec~vee ~ ~m~ti~ vote oftwo-~ of all members elected m Coundl, t~ or~---ce shall <br />~ ~ and be ia for~ hmn~ly yon its passa~ by th~ Coun~ and approval by <br />Mayor;, odlerwi~ it ~ take ~ and be in for~ ~ ~ ~aitiest period allowed by law. <br /> <br />Approved: ,-~,L. , 1997 <br /> <br />Mayor <br /> <br /> <br />