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<br />1 <br /> <br />for the City's outstanding Tax and Revenue Certificates of Obliga- <br />tion, Series 1977, and on or before December 20, 1979, and semi- <br />annually on or before the 20th day of each December and June <br />thereafter, until the Certificates and all interest thereon shall <br />have been paid, there shall be deposited into the Series 1979 <br />Interest and Sinking Fund from the Revenue Fund such amounts of <br />the net revenues as shall be at least sufficient together with other <br />amounts, if any, then on deposit in the Series 1979 Interest and <br />Sinking Fund to pay the interest and principal, if any, scheduled <br />to come due to the Certificates on the next interest payment date. <br />The Series 1979 Interest and Sinking Fund shall be used to pay the <br />principal of and interest on the Certificates as such principal <br />matures and such interest comes due. <br />Section 10. All ad valorem taxes levied and collected <br />on account of the Certificates shall be deposited, as collected, <br />to the credit of the Series 1979 Interest and Sinking Fund. During <br />each year while any of the Certificates or interest coupons apper- <br />taining thereto are outstanding and unpaid, the City Council of <br />said City shall compute and ascertain a rate and amount of ad <br />valorem tax which will be sufficient to raise and produce the money <br />required to pay the interest on the Certificates such such interest <br />comes due, and to provide and maintain a sinking fund adequate to <br />pay the principal of the Certificates as such principal matures <br />(but never less ,than 2% of the original principal amount of the <br />Certificates as a sinking fund each year); and said tax shall be <br />based on the latest approved tax rolls of said City, with full <br />allowance being made for tax delinquencies and the cost of tax <br />collection. Said rate and amount of ad valorem tax is hereby levied, <br />and is hereby ordered to be levied, against all taxable property in <br />said City for each year while any of the Certificates or interest <br />coupons appertaining thereto are outstanding and unpaid; and said <br />tax shall be assessed and collected each such year and deposited <br />to the credit of the Series 1979 Interest and Sinking Fund. Said <br />ad valorem taxes sufficient to provide for the payment of the <br />interest on and principal of the Certificates, as such interest comes <br /> <br />1 <br /> <br />I <br />