US Laws, Codes, Statutes & Cases

                                  TITLE  63
                             REVENUE AND TAXATION
                                  CHAPTER 31
                           ANTICIPATION OF REVENUE
                             BY TAXING DISTRICTS
    63-3105.  TAX LEVY TO COVER DEFICIENCY IN BOND OR NOTE PAYMENTS. In the
event that the taxes collected for any fiscal year prior to date on which
final installment of such taxes becomes delinquent, or other anticipated funds
or revenues, shall not be sufficient to pay the revenue anticipation bonds or
notes issued in anticipation of the collection of taxes or other funds or
revenues of such fiscal year, the taxing district shall, in providing for the
levy of taxes for the succeeding fiscal year, include in such tax levy for the
succeeding fiscal year the amount necessary to cover such deficiency in the
collection of such taxes or other funds or revenues, such levy in the
succeeding year to be in an amount which, together with the amount of taxes
then in such "Revenue Anticipation Bond or Note Redemption Fund" shall be
sufficient to provide for the payment of principal of and interest on the
revenue anticipation bonds or notes issued in anticipation of such taxes,
funds, or other revenues and payable out of such fund.