Laserfiche WebLink
3 <br />covenanted and agreed to collect and apply to payment of the bonds ad valorem taxes levied on all taxable <br />property in the City and special assessments upon property specially benefited by the local improvements <br />financed with the Bonds, which taxes and assessments are estimated to be collectible in years and amounts <br />sufficient to produce sums not less than 5% in excess of the principal of and interest on the Bonds when <br />due, and has appropriated such assessments and taxes to its General Obligation Improvement Bonds, Series <br />2024A Bond Fund for the payment of such principal and interest; that if necessary for the payment of such <br />principal and interest, additional ad valorem taxes are required to be levied upon all taxable property in the <br />City, without limitation as to rate or amount; that all proceedings relative to the projects financed by this <br />Bond have been or will be taken according to law and that the issuance of this Bond, together with all other <br />indebtedness of the City outstanding on the date hereof and on the date of its actual issuance and delivery, <br />does not cause the indebtedness of the City to exceed any constitutional or statutory limitation of <br />indebtedness. <br />This Bond shall not be valid or become obligatory for any purpose or be entitled to any security or <br />benefit under the Resolution until the Certificate of Authentication hereon shall have been executed by the <br />Registrar by manual signature of one of its authorized representatives.