4.45.150 No limitation on taxes to pay bonds.
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The limitation provided for in KGBC 4.45.140 does not apply to taxes levied or pledged to pay or secure the payment of the principal and interest on bonds. Taxes to pay or secure the payment of principal and interest on bonds may be levied without limitation as to rate or amount, regardless of whether the bonds are in default or in danger of default. [Ord. No. 558, §12, 2-18-86. Code 1974 §45.11.050.]
State Law Reference – Similar provisions, AS 29.45.100.