Res55 1894 - Laserfiche WebLink

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applied thereto one - twelfth (1/12) of the amount budgeted to be raised from the ad valorem assessment levy for said fiscal year, and after having applied thereto any moneys in the Surplus Fund. Any moneys transferred hereunder shall be repaid to the Meter Revenue Fund from the first available surplus funds in the Off- Street Revenue Fund or under the Primary Pledge. If said moneys are not repaid at the time the City makes its tax levy for general City purposes, the amount thereof shall be included in the amount of the ad valorem assessment levy for said fiscal year and repaid from the proceeds thereof. 29. Annual Statement. Annually, prior to the time fixed for levying City taxes,-the City Treasurer shall pre- pare and file with the Council a statement of the estimated gross revenues from the off - street parking places and faci- lities acquired from the proceeds of the bonds of this issue for said fiscal year, the estimated cost of maintaining and operating said facilities, the estimated gross revenues to be derived for said year and paid into the Street Me ter Fund, the amount - avai lab le f or ' the Primary Pledge therefrom, the amount required to be repaid under the Secondary Pledge, the amounts required for the payment of the principal and interest of the bonds,, and any amount required for the pay- ment of any other costs which have or might become a charge against any of said revenues which has or will become due before the proceeds of another annual levy shall become available therefor, and the amount of the special levy for said year within the district. 29a. Annual Levy. The City Council shall annually, at the time and in the manner of levying other City taxes, levy and cause to be collected an ad valorem assessment upon all taxable real property in said Parking District No. 1, to the extent to which revenues from the parking lots and from parking meter primary pledge have been or are ex- pected to be insufficient, which shall clearly be sufficient, in addition to such sums as may be in said redemption fund after making adequate allowance for estimated delinquencies, to pay the principal of and interest on said bonds which have or shall become payable before the proceeds of another such shall be available therefor, and to repay the amount of any advance under the Secondary Pledge that has not been repaid. -17-