2003-54 PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS

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applicable laws in order to assure that the Pledged Taxes may be levied, extended and collected as provided herein and deposited into the Bond Fund. Whenever other funds from any lawful source are made available for the purpose of paying any principal of or interest on the Bonds so as to enable the abatement of the taxes levied herein for the payment of same, the Council shall, by proper proceedings, direct the deposit of such funds into the Bond Fund and further sha11 direct the abatement of the taxes by the amount so deposited. A certified copy or other notification of any such proceedings abating taxes may then be filed with the County Clerk in a timely manner to effect such abatement. Section 14. Filing with County Clerk. Promptly, as soon as this Ordinance becomes effective, a copy hereof, certified by the City Clerk of the City, shall be filed with the County Clerk; and the County Clerk shall in and for each of the years 2003 to 2023,inclusive, ascertain the rate percent required to produce the aggregate tax hereinbefore provided to be levied in each of said years; and the County Clerk shall extend the same for collection on the tax books in connection with other taxes levied in said years in and by the City for general corporate purposes of the City; and in said yeazs such annual tax shall be levied and collected by and for and on behalf of the City in like manner as ta�ces for general coiporate purposes for said yeazs are levied and collected,and in addition to and in excess of all other taxes. To the extent that the taJ�es levied above exceed the amount necessary to pay debt service on the Bonds as set forth in the Bond Notification, the Mayor, Clerk and Treasurer of the City aze hereby authorized to direct the abatement of such taxes to the extent of the excess of such levy in each yeaz over the amount of debt service payable on the Bonds in the yeazs in which such taxes are collectible. Proper notice of such abatement shall be filed with the County Clerk in a timely manner to effect such abatement. -25-