§ 24-90-513 — Levies to cover deficiencies

The governing body, in certifying
annual levies, shall take into account the maturing indebtedness for the current and
ensuing year as provided in its contracts, maturing bonds, and interest on bonds
and the deficiencies and defaults of prior years and shall make ample provisions for
the payment thereof. In case the moneys produced from such levies, together with
other revenues of the library district or facilities district, are not sufficient to pay
punctually the annual installments on its contracts or bonds and interest thereon
and to pay defaults and deficiencies, the governing body, from year to year, shall
make such additional levies of taxes as may be necessary for such purposes, and,
notwithstanding any limitations, such taxes shall be levied and shall continue to be
levied until the indebtedness of the library district or facilities district is fully paid.

Legislative History

Source: L. 2003: Entire part added, p. 2473, � 29, effective August 15.