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<br /> the City and the District, the District shall be entitled to levy <br /> and collect an ad valorem tax which, when added to the projected <br /> revenues of the District for the next year, will yield an amount <br /> sufficient to meet all financial obligations of the District and <br /> provide a contingency fund equal to 10% of the revenues projected <br /> to be required the next year to meet the District's obligations <br /> and operating costs after taking into account any surplus or <br /> contingency funds that will be carried into the next year. The <br /> Citv shall be entitled to levy and collect an ad valorem tax <br /> which, when added to that which the District is entitled to levy <br /> and collect, shall not cause the total ad valorem taxes on <br /> taxable property within the District to exceed the limitation set <br /> forth above. It is provided, however, that if the foregoing <br /> limitation upon the total amount of ad valorem taxes shall be <br /> declared invalid by a court of competent jurisdiction and no <br /> appeal is or can be taken from that decision, then such <br /> limitation shall not apply and the City and District may each <br /> levy such ad valorem taxes as may be authorized by law. <br /> ( 4) During the period following annexation but <br /> preceding dissolution of the District, the District shall, to the <br /> extent permitted by law, be responsible for providing water and <br /> wastewater service to the residents of the District in the manner <br /> such services were previously provided and as described in this <br /> Agreement. The City shall be responsible for the provision of <br /> all other municipal services, including maintenance of parks and <br /> recreational areas, to residents of the District until <br /> dissolution of the District, at which time the City shall become <br /> responsible for the provision of all municipal services to <br /> residents of the District. <br /> ( 5) By formal action of the City Council of the <br /> City, the District may be dissolved and the City shall thereupon <br /> succeed to all the remaining properties, powers, duties, assets, <br /> debts, liabilities, and obligations of the District at any time <br /> after the District's lands have been annexed to the City pursuant <br /> to this Paragraph E. <br /> -19- <br />