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<br />J'.'" <br /> <br />Section 9.. During the year or years while the Notes run, there shall be levied on <br />all the taxable property in the City of Lakewood, in addition to all other taxes, a direct tax <br />annnally not less than that which wonld 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 />extènded upon the tax duplicate and collected by the same officers, in the same manner· and at the <br />same time that taxes for general purposes 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 amonnt <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 all of the taxabl~ 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 obligatioils of the City of Lakewood, will have been done and performed in <br />regular and due fOlm as required by law; and that no limitation of indebtedness or taxation, either <br />statutory or constitutional. will have been exceeded in the issuance of said Notes. <br /> <br />Section II. The Clerk of Council is hereby directed to forwwd a certified copy of <br />this ordinance to the County Auditor, <br /> <br />Section 12. The Mayor and Fiscal Officer, or either of them, we authorized to <br />\ <br />prepare, execute and deliver to the original purchaser of the Notes a preliminary and final <br />Official Statement or any othetappropriate 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 passage of this ordinance were passed in an open meeting of this <br />Council, and that all such deliberations of this Council and any of its committees that resulted in <br />such fonnal 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 ordiri'ance is hereby declared to be an emergency measure <br />necessary for the immediate 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 affirmative vote of two-thirds of all members elected to Council, this ordinance shall <br /> <br />H:·\FENIX\14282\l4282NAC.81B <br /> <br />4 <br />