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<br /> ..- <br /> become due and payable. Said taxes when collected shall be <br /> deposited in a special fund to be known as the "City of Louisville <br /> Water Bond Fund, 1981", and such Fund shall be applied solely to <br /> the purpose of the payment of the interest on and the principal of <br /> the bonds and for no other purpose whatever, until the indebt- <br /> edness so contracted under this Ordinance, both principal and <br /> interest, shall have been fully paid, satisfied and discharged. <br /> Nothing herein contained shall be so construed as to prevent the <br /> City from applying any other funds or revenues that may be in the <br /> City treasury and available for that purpose, to the payment of <br /> the interest or principal, as the same respectively mature, and <br /> upon any such payments, the levy or levies herein provided may <br /> thereupon be diminished to that extent. <br /> An amount necessary to pay all costs and expenses <br /> incidental to the issuance of said bonds and the amounts herein- <br /> before provided to pay the interest on said bonds and to discharge <br /> the principal thereof when due, are hereby appropriated for 'that <br /> purpose, and said amount for each year shall also be included in <br /> the annual budget and the appropriation bills to be adopted and <br /> passed by the City Council of the City in each year, respec- <br /> tively. <br /> It shall be the duty of the City Council of the City, <br /> annually, at the time and in the manner provided by law for <br /> levying other City taxes, if such action shall be necessary to <br /> effectuate the provisions of this Ordinance, to ratify and carry <br /> out the provisions hereof with reference to the levying and <br /> collection of taxes; and the Council shall levy, certify and <br /> collect said taxes in the manner provided by law for the purpose <br /> of creating a fund for the payment of the principal of the bonds <br /> and interest thereon, and said taxes, when collected, shall be <br /> kept for and applied only to the payment of the interest and <br /> principal of the bonds as hereinabove specified. <br /> Section 5. Establishment of Rates and Charges for Ser- <br /> vices. Notwithstanding the foregoing provisions for tax levies, <br /> - 8 - <br />