§ 74-48. Rate of annual levy.

Latest version.

(a)

To meet the ordinary current expenses of the city, the city shall annually levy upon all real and personal property within the city an ad valorem tax at the millage rate recommended by the finance director.

(b)

To provide for a sinking fund for the payment of principal and interest on general obligation bonds, greater ad valorem tax may be levied upon all real and personal property within the city. Such levies shall be shown separately on all tax bills.

(Code 1979, § 4-101.1)

                    
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