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<br />I <br /> <br />due and such principal matures, are hereby pledged irrevocably for <br />such payment, within the limit prescribed by law. <br />It is specifically provided that to the extent necessary <br />the payments into the Series 1979 Interest and Sinking Fund as herein- <br />above required shall be made from funds derived from taxation. The <br />amount of taxes to be provided annually for the payment of principal <br />of and interest on the Certificates shall be determined and accom- <br />plished as follows: the City's annual budget shall reflect (a) the <br />amount of debt service requirements to become due on the Certifi- <br />cates in the next succeeding fiscal year of the City, (b) the amount <br />of deposit in the Series 1979 Interest and Sinking Fund, as of the <br />date such budget is prepared (after giving effect to any payments <br />required to be made during the remainder of the then current fiscal <br />year) and (c) the amount of net revenues estimated and budgeted to <br />be available for the payment of such debt service requirements on the <br />Certificates during the next succeeding fiscal year of the City <br />(based upon the amount of net revenues available from the preceding' <br />fiscal year). The amount required to be provided in the succeeding <br />fiscal year of the City from ad valorem taxes shall be the amount, <br />if any, the debt service requirements on the Certificates in such <br />fiscal year exceed the sum of (i) the amount shown to be on deposit <br />in the Series 1979 Interest and Sinking Fund at the time the annual <br />budget is prepared and (ii) the net revenues of the airport shown to <br />be budgeted and available for payment of such debt service require- <br />ments. Following final approval of the City's annual budget, the <br />City Council shall levy an ad valorem tax at a rate sufficient to <br />produce taxes in the amount so determined, to be utilized for the <br />purpose of paying the principal and interest on the Certificates in <br />the next succeeding fiscal year of the City. <br />Section 11. In combination with the ad valorem taxes <br />hereinabove levied and ordered to be levied, the Certificates and <br />all interest thereon, are and shall be secured by and payable from <br />the net revenues. <br />Section 12. The City covenants and agrees with the <br />holders of the Certificates that it will at all times collect rates <br /> <br />1 <br /> <br />I <br />