458.37 TAX LEVY TO PAY BONDS.
The full faith and credit of the issuing city must at all times be pledged to pay bonds issued
under sections
458.36 to
458.40, and to pay the current interest on them. The city's council shall
each year include in its tax levy a sufficient amount to pay the interest as it accrues.
A tax levy need not be made if the quarry and dock fund described in section
458.39 contains
enough money to make the payment.
History: (1600-2) 1925 c 64 s 2; 1985 c 265 art 8 s 1