§ 18-4-309 — Tax levy for purpose of redemption; payment from general fund; reimbursement

The board of county commissioners shall annually levy upon all
taxable property in the county, in addition to other authorized
taxes, a sufficient sum to pay the interest on all bonds and
shall at least five (5) years before the bonds become optional,
and in time to provide means for their payment, annually levy
not less than one (1) mill to pay the bonds as they become
optional. All such taxes shall be levied, assessed and collected
as other county taxes until the bonds and interest are fully
paid. Should the tax for payment of interest on bonds issued not
be levied or collected in time for payment the interest shall be
paid from monies in the general fund of the county and the money
so used shall be repaid to the general fund out of the first
monies collected from taxes.