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<br />extended upon the tax duplicate and collected by the same officers, in the same manner and at the <br />same time that taxes for general pufposes of each of said years 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 funds derived from said tax levies hereby required shall be placed in a separate and <br />distinct fund which, together with the interest collected on the same shall be irrevocably pledged <br />for the payment of the principal of and interest on the Notes or the bonds in anticipation of which <br />they are issued, when and as the same falls due; provided, however, that in each year to the <br />extent that revenues are available from other sources for the payment of the Notes and bonds and <br />are appropriated for such purpose, the amount of such direct tax upon á!l of the taxable property <br />in the City shall be reduced by the amount of such revenues so available and appropriated. <br /> <br />Section 10. It is hereby detennined and recited that all acts, conditions and things <br />necessary to be done precedent to and in the issuing of the Notes in order to make them legal, <br />valid and binding obligations of the City of Lakewood, will have been done and penonned in <br />regular and due fonu as required by law; and that no limitation of indebtedness or taxation, either <br />statutory or constitutiònal, will have been exceeded in the issuance of said Notes. <br /> <br />Section 11. The Clerk of Council is hereby directed to forward a certified copy of <br />this ordinance to the County Auditor, <br /> <br />Section 12. The Mayorand Fiscal Officer, or either of them, are authorized to <br />prepare, execute and deliver to the original purchaser of the Notes a preliminary and final <br />Official 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 determined that all formal actions of this Council <br />concerning and relating to the paSS!.lge of this ordinance were passed in an open meeting of this <br />Council, and that all such deliberationsoftliis Council and any of its committees that resulted 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 />Section 14. This ordinance is hereby declared to bean emergency measure <br />necessary for the irrunediate preservation of the public peace, property, health, safety and welfare <br />in the City for the reasons set forth and defined in the preamble to this ordinance, and provided it <br />receives the affinnative vote of two-thirds of all members elected to Council; tiiis ordinance shall <br /> <br />H:\FENIX\14282\14282NAB.81B <br /> <br />4 <br />