The Council, after deducting the amount collectible from other sources, shall levy
upon all taxable property, real and personal, within the limits of the City and County,
the amount of taxes for City and County purposes necessary to provide for the payment
during the ensuing fiscal year, of all properly authorized demands upon the treasury,
not exceeding fifteen (15) mills on the dollar for all general City and County purposes
upon the total assessed valuation of said property, and shall also, in addition thereto,
levy the State and school district taxes. The foregoing limitation of fifteen (15)
mills shall not apply to taxes which shall annually be levied by the Council for the
payment of any general obligation bonded indebtedness of the City and County, now
existing or hereafter created, or interest thereon, nor for sinking fund, nor for
the indebtedness of any municipal corporation or quasi municipal corporation heretofore
consolidated with or hereafter incorporated with, or annexed to, the City and County,
or of the interest thereon; nor to special assessments for local improvements.
(Charter 1960, A6.2; amended November 2, 1982)
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