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obligations as the issuer thereof, there is hereby levied upon <br /> all of the taxable property in the City a direct annual ad <br /> valorem tax which shall be spread upon the tax rolls and <br /> collected with and as part of other general property taxes in the <br /> City for the years and in the amounts as follows: <br /> Year of Tax Year of Tax <br /> Levy Collection Amount <br /> 1991 1992 <br /> 1992 1993 <br /> 1993 1994 <br /> 1994 1995 <br /> 1995 1996 <br /> 1996 1997 <br /> 1997 1998 <br /> 1998 1999 <br /> 1999 2000 <br /> 2000 2001 <br /> 2001 2002 <br /> 2002 2003 <br /> 2003 2004 <br /> 2004 2005 <br /> 2005 2006 <br /> 2006 2007 <br /> 2007 2008 <br /> 2008 2009 <br /> 2009 2010 <br /> 2010 2011 <br /> The tax levies shall be irrepealable so long as any of <br /> the City's Bonds are outstanding and unpaid, provided that the <br /> City reserves the right and power to reduce the levies in the <br /> manner and to the extent permitted by Minnesota Statutes, Section <br /> 475. 61, Subdivision 3, and to reduce or increase the levies in <br /> response to changes from year to year in the City's Formula share <br /> of the debt service on the Bonds. <br /> It—i-s—h reby found det-ermined that aha enues <br /> provided herein for the payment of the City's Bonds will be <br /> available in amounts sufficient to produce at least five percent <br /> (5%) in excess of the amount needed to meet, when due, the <br /> principal and interest payments on the City's Bonds. <br /> For the prompt and full payment of the principal and <br /> interest on the City's Bonds, as the same respectively become <br /> due, the full faith and credit and taxing powers of the City <br /> shall be and are hereby irrevocably pledged. <br /> 15717 <br /> 5 <br />