§ 20-4-104. FUNDS FOR RETIREMENT AND PAYMENT OF INTEREST GENERALLY.

The payment of interest on and the retirement of bonds issued pursuant to this title shall be provided out of the funds received under the provisions of §§ 20-3-201 through 20-3-214 of this article and, to the extent necessary, by a levy annually against all taxable property in the metropolitan district, less the connection charges, other available funds, and front foot assessments on hand or estimated to be received during such year applicable to the payment of interest and retirement expenses, for all the bonds issued; provided that in the event such sum so levied shall not provide sufficient amounts to retire all such bonds as they mature, then the county shall levy annually against all taxable property in the county a sufficient sum to make up the deficiency. The Director of Budget and Finance is hereby required to collect the tax so levied in the same manner as state and county taxes are collected, and such tax shall bear the same interest and be subject to the same penalties in the event of nonpayment as in the case of other county taxes.

(1988 Code, § 35-254) (Bill No. 126, § 2, 9-28-1990; Bill No. 49-96, § 21, 7-1-1996; Bill No. 30-03, § 1, 7-1-2004)