2019-46 Ordinance Providing for the Issuance of not to Exceed $9,300,000 General Obligation Bonds, Series 2019 of the City for One or More of the Following Purposes: Refunding Certain Outstanding Bonds of the City, Improving the Decatur Public Library

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Section 12. Tax Levy. For the purpose of providing funds required to pay the interest on the Refunding Bonds promptly when and as the same falls due, and to pay and discharge the principal thereof at maturity,there is hereby levied upon all of the taxable property within the City, in the years for which any of the Refunding Bonds are outstanding (namely, levy years 2019 through 2029), a direct annual tcrx sufficient for that purpose in a yearly amount not to exceed $1,100,000 (the "Pledged Taxes for the Refunding Bonds'). For the purpose of providing funds required to pay the interest on the Project Bonds promptly when and as the same falls due, and to pay and discharge the principal thereof at maturity, there is hereby levied upon all of the taxable property within the City, in the years for which any of the Project Bonds are outstanding(namely, levy years 2019 through 2038), a direct annual tax sufficient for that purpose in a yearly amount not to exceed$325,000(the "Pledged Taxes for the Project Bonds"and, together with the Pledged Ta�ces for the Refunding Bonds, the "Pledged Taxes"). For each series of Bonds, such levy shall be fully set forth in the Bond Notification therefor. The Pledged Taxes and other moneys (excepting proceeds of the Bonds) on deposit (collectively, the "Bond Moneys") in the Bond Fund shall be applied to pay principal of and interest on the Bonds. Interest or principal coming due at any time when there are insufficient funds on hand from the Pledged Taxes to pay the same shall be paid promptly when due from current funds on hand in advance of the collection of the Pledged Taxes herein levied; and when the Pledged Taxes shall have been collected, reimbursement shall be made to said funds in the amount so advanced. The City covenants and agrees with the purchasers and registered owners of the Bonds that so long as any of the Bonds remain outstanding, the City will take no action or fail to take any action which in any way would adversely affect the ability of the City to levy and collect the foregoing tax levy. The City and its officers will comply with all present and future applicable laws in order to assure -23-