§ 41-10-116 — Matters to be considered in certifying annual levies; additional levies

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