Laserfiche WebLink
they are issued, when and as the same fails 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 ail of the taxable property <br />in the City shall be reduced by the amount of such revenues so available and appropriated. <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 />vaiid and binding obligations of the City of Lakewood, will have been done and performed in <br />regular and due form as required by law; and that nc limitation of indebtedness or taxation, either <br />statutory or constitutional, will have been exceeded in the issuance of said Notes. <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 originai purchaser of the Notes a preliminary and final <br />Official Statement or any other appropriate disclosure document in connection with the saie and <br />delivery of the Notes. <br /> <br /> Section 13. It is found and determined that ail 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 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 be an emergency measure <br /> necessary for the immediate preservation of the public peace, property, heaith, 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 ail 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, it shall take effect and be in force after the earliest period ailowed by law. <br /> <br /> President of Council <br /> <br />{I~L~O883.DOC; 1} 4 <br /> <br /> <br />