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<br /> Section 10. Security for the Bonds. The Bonds are a general obligation of the City, for
<br /> which the full faith and credit of the City are hereby irrevocably pledged, and are payable from
<br /> the levy of taxes on all of the taxable property in the City, without limitation as to rate or
<br /> amount.
<br /> Section 11. Tax Levy; Abatement. For the purpose of providing funds required to pay
<br /> the interest on the Bonds promptly when and as the same falls due, and to pay and discharge the
<br /> principal thereof at maturity, there is hereby levied upon all of the taxable property within the
<br /> City, in the years for which any of the Bonds are outstanding, a direct annual tax sufficient for
<br /> that purpose; and there is hereby levied on all of the taxable property in the City, in addition to
<br /> all other taxes, the following direct annual taxes (the Pledged Taxes as hereinabove defined):
<br /> FOR THE YEAR A TAX SUFFICIENT TO PRODUCE THE DOLLAR SUM OF:
<br /> 2010 $3,031,657.24 for interest and principal up to and
<br /> including December 15, 2011
<br /> 2011 $3,374,012.54 for interest and principal
<br /> 2012 $3,407,075.04 for interest and principal
<br /> 2013 $3,441,725.04 for interest and principal
<br /> 2014 $3,475,300.04 for interest and principal
<br /> 2015 $3,620,075.04 for interest and principal
<br /> 2016 $3,645,325.04 for interest and principal
<br /> 2017 $3,676,625.04 for interest and principal
<br /> 2018 $3,700,512.52 for interest and principal
<br /> 2019 $3,725,431.28 for interest and principal
<br /> 2020 $3,736,750.04 for interest and principal
<br /> 2021 $3,772,950.04 for interest and principal
<br /> 2022 $3,998,118.78 for interest and principal
<br /> 2023 $4,017,656.28 for interest and principal
<br /> 2024 $3,299,062.54 for interest and principal
<br /> 2025 $3,266,817.52 for interest and principal
<br /> 2026 $3,232,842.50 for interest and principal
<br /> 2027 $2,872,762.50 for interest and principal
<br /> 2028 $2,812,362.50 for interest and principal
<br /> 2029 $2,736,800.00 for interest and principal
<br /> The Pledged Taxes and other moneys on deposit in the Bond Fund shall be applied to pay the
<br /> principal of and interest on the Bonds.
<br /> -29-
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