3.50.020 Tax levy authorized for maintenance of fund.
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For the purpose of maintaining the local improvement guaranty fund, the city shall from time to time levy, as other taxes are levied, such sums as may be necessary, with the other sources of the fund, to pay the warrants issued against the fund during the preceding fiscal year and to establish a balance therein. The levy in any one year shall not exceed five percent of the outstanding obligations guaranteed by the fund. The taxes levied for the maintenance of said fund shall be additional to and, if need be in excess of all statutory limitations applicable to tax levies of the city. (Ord. 421 (part), 1976).