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<br />become due and payable. Said taxes when collected shall be <br />deposited in a special account to be known as the "City of Louis- <br />ville Water Bond Account, 1982", and such Account shall be applied <br />solely to the purpose of the paymt:nt of the interest on and the <br />principal of the bonds and for no other purpose whatever, until <br />the indebtedness so contracted under this Ordinance, both princi- <br />pal and interest, shall have been fully paid, satisfied and <br />discharged. Nothing herein contained shall be so construed as to <br />prevent the City from applying any other funds or revenues that <br />may be in the City treasury and available for that purpose, to the <br />payment of the interest or principal, as the same respectively <br />mature, and upon any such payments, the levy or levies herein <br />provided may 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 t ax e s , 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 S. Establishment of Rates and Charges for Ser- <br />vices. Notwithstanding the foregoing provisions for tax levies, <br /> - 8 - <br />