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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 <br />Amount <br />1991 1992 $ 130,231 <br />1992 1993 104,277 <br />1993 1994 104,315 <br />1994 1995 102,970 <br />1995 1996 102,725 <br />1996 1997 103,486 <br />.1997 1998 102,771 <br />1998 1999 101,868 <br />1999 2000 100,776 <br />2000 2001 100,691 <br />2001 2002 99,130 <br />2002 2003 99,192 <br />2003 2004 99,070 <br />2004 2005 98,652 <br />2005 2006 97,931 <br />2006 2007 98,160 <br />2007 2008 98,064 <br />2008 2009 99,163 <br />• <br />2009 2010 98,687 <br />2010 2011 99,100 <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 is hereby found and determined that the revenues <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 />