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excess over the amount of such requirement shall be deducted from the future <br /> requirement for such Bonds as the City shall determine. <br /> Interest or principal coming due at any time when there are insufficient funds on hand <br /> from the Pledged Taxes to a the same shall be aid promptly when due from current funds on <br /> g pay p P P Y <br /> hand in advance of the collection of the Pledged Taxes herein levied; and when the Pledged <br /> Taxes shall have been collected reimbursement shall be made to said funds in the amount so <br /> advanced. The City covenants and agrees with the purchasers and registered owners of the <br /> Bonds that so long as any of the Bonds remain outstanding, the City will take no action or fail to <br /> take any action which in any way would adversely affect the ability of the City to levy and collect <br /> the foregoing tax levy. The City and its officers will comply with all present and future <br /> applicable laws in order to assure that the Pledged Taxes may be levied, extended and collected <br /> as provided herein and deposited into the Bond Fund. <br /> Whenever other funds from any lawful source are made available for the purpose of <br /> paying any principal of or interest on the Bonds so as to enable the abatement of the Pledged <br /> Taxes levied for the payment of same, the Council shall, by proper proceedings, direct the <br /> deposit of such funds into the Bond Fund and further shall direct the abatement of the taxes by <br /> the amount so deposited. A certified copy or other notification of any such proceedings abating <br /> Pledged Taxes shall be filed with the County Clerk in a timely manner to effect such abatement. <br /> Section 14. Filing with County Clerk. Promptly, as soon as this Ordinance becomes <br /> effective, a copy hereof, certified by the City Clerk, shall be filed with the County Clerk; and the <br /> County Clerk shall in and for each of the years 2012 to 2023, inclusive, ascertain the rate percent <br /> required to produce the aggregate tax hereinbefore provided to be levied as set forth in each of <br /> said years; and the County Clerk shall (to the extent said tax has not been abated as provided <br /> herein) extend the same for collection on the tax books in connection with other taxes levied in <br /> -24- <br /> 39 <br />