Resolutions-2015-089

For collection in the fiscal year beginning July 1, 2018, sufficient to produce the net annual sum of $416,605; For collection in the fiscal year beginning July 1, 2019, sufficient to produce the net annual sum of $419,990; For collection in the fiscal year beginning July 1, 2020, sufficient to produce the net annual sum of $417,515; For collection in the fiscal year beginning July 1, 2021, sufficient to produce the net annual sum of $419,265; For collection in the fiscal year beginning July 1, 2022, sufficient to produce the net annual sum of $415,425; For collection in the fiscal year beginning July 1, 2023, sufficient to produce the net annual sum of $415,765; For collection in the fiscal year beginning July 1, 2024, sufficient to produce the net annual sum of $415,115; For collection in the fiscal year beginning July 1, 2025, sufficient to produce the net annual sum of $418,800; For collection in the fiscal year beginning July 1, 2026, sufficient to produce the net annual sum of $416,640; and For collection in the fiscal year beginning July 1, 2027, sufficient to produce the net annual sum of $418,770. The amount necessary to pay the principal of and interest on the Bonds to and including June 1, 2016, is hereby appropriated by the City Council. Section 8. Notwithstanding the foregoing, if it is necessary to adjust the foregoing amounts, the City Council shall make any such adjustments by amendment to this resolution. A certified copy of this resolution (and any such amendment) shall be filed with the Johnson County Auditor, and the County Auditor is hereby instructed to take such action as may be needed for each of the fiscal years as provided, upon certification by the City as provided in Section 9 hereof, to levy and assess the tax hereby authorized in Section 7 (as may be amended from time to time) sufficient to produce Debt Service Tax Revenues in an amount equal to the Debt Service Levy Amount (defined in Section 9) so certified, such levy and assessment to be in like manner as other taxes are levied and assessed, and such taxes so levied to be collected in like manner as other taxes of the City are collected and such taxes when collected to be transferred to the City for deposit into the Bond Fund to be used for the purpose of paying principal and interest on the Bonds, and for no other purpose whatsoever. Section 9. The principal of and interest on the Bonds are payable from funds on deposit in the Bond Fund to the extent appropriated therefore by the City Council and from other funds appropriated from time to time by the City Council for such purpose, all of which are pledged by the City to the payment of such principal and interest. The City Council is