98-34 PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION BONDS

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Section 11. Tax Levy. For the purpose of providing funds required to pay the interest on the 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 Bonds are outstanding, a direct annual tax sufficient for that purpose; and there is hereby levied on all of the taxable property in the City, in addition to all other taxes, the following direct annual t�es (the Pledged Taxes as hereinabove defined): FOR TI�YEAR A TAX SUFFICIENT TO PRODUCE TI-�DOLLAR SUM OF: 1998 $ 498,290.00 for interest and principal up to and including January 1, 2000 (net of funds on hand) 1999 $ 487,110.00 for interest and principal 2000 $ 475,410.00 for interest and principal 2001 $ 463,710.00 for interest and principal 2002 $ 452,010.00 for interest and principal 2003 $ 440,310.00 for interest and principal 2004 $ 428,350.00 for interest and principal 2005 $ 416,390.00 for interest and principal 2006 $ 404,170.00 for interest and principal 2007 $ 391,950.00 for interest and principal 2008 $ 379,470.00 for interest and principal 2009 $ 366,730.00 for interest and principal 2010 $ 353,990.00 for interest and principal 2011 $ 340,990.00 for interest and principal 2012 $ 327,730.00 for interest and principal 2013 $ 314,470.00 for interest and principal 2014 $ 300,950.00 for interest and principal 2015 $ 287,300.00 for interest and principal 2016 $ 273,650.00 for interest and principal The Pledged Taxes and other moneys on deposit in the Bond Fund shall be applied to pay the 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 ' -20- ,