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<br />thereof The funds derived from said tax levies hereby required shall be placed in a separate and <br />distinct firud which, together with the interest collected on the same shall he irrevocably pledged <br />for the payment ofthe principal of and interest on the Notes or the bonds in anticipation ofwhÍch <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 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 determined 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 performed in <br />regular aÌ1d due forin as required by law; and that no limitation of indebtecl1less or taxation, either <br />statutory or cortstitutional, will have been exceeded in the issuance of said Notes, <br /> <br />~ <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 Mayor and 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 appropriaté disclosure document in connection with the sale and <br />delivery ofthe 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 tms 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 ordinance 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 th,is ordinance, and provided it <br />receives the affirmative vote of two- thirds of all members elected to, Council, this ordinance shall <br />take effect and be in force immediately upon its passage by the Council and approval by the <br />Mayor; otherwise, itshall take effect and be in force after the earliest period allowed by law. <br /> <br /> <br />>?~.~ <br /> <br />President of Council <br /> <br />h <br /> <br />,2000 <br /> <br />pàssed: 11~ <br /> <br />APProved~2000 <br /> <br />~ÆlW~ <br /> <br /> <br />Mayor <br /> <br />{KLF0866.DOC;1} <br /> <br />4 <br /> <br />:~ ? <br />