US Laws, Codes, Statutes & Cases

      The principal of and interest on bonds issued under this title shall be payable from the proceeds of the collection of the taxes authorized in this title. In the event of the inadequacy of the taxes for this purpose, there shall be levied by the county guaranteeing the bonds, in each year that an inadequacy exists, an additional tax upon all assessable property within the portion of the district in that county sufficient to make up the inadequacy. If the proceeds of the additional tax shall likewise be inadequate, then the county shall levy a tax upon all the assessable property within the corporate limits of the county sufficient to make up the inadequacy or deficiency in the revenues available for principal and interest maturities on the bonds. Nothing contained in this section or elsewhere in this article may be deemed or construed as increasing or decreasing or otherwise modifying the limitations on the powers of the Commission to issue bonds as contained in §§ 6-101 and 6-104 of this title or in any other law.