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<br />To the first installments of each of the above as- <br />sessments there has been or there shall be added interest at <br />the rate indicated from the date of the resolution levying <br />. the assessment until December 31 of the next succeeding year. <br />To each subsequent installment there has been or shall be <br />added interest at the same rate for one year on all unpaid <br />installments. <br /> <br />12. To provide moneys for the payment of principal <br />and interest there is hereby levied upon all of the taxable <br />property in the Village a direct general annual ad valorem <br />tax, which shall be spread upon the tax rolls and collected <br />with and as a part of other general property taxes in said <br />Village for the years and in the amounts as follows: <br /> <br />Year of Tax Year of Tax <br />Levy Collection Amount <br />1971 1972 $ 87,600 <br />1972 1973 141,650 <br />1973 1974 140,750 <br />1974 1975 139,950 <br />1975 1976 139,100 <br />1976 1977 138,000 <br />1977 1978 136,550 <br />1978 1979 134,800 <br />1979 1980 142,350 <br />1980 1981 142,350 <br />1981 1982 139~150 <br />1982 1983 135~550 <br />1983 1984 131,850 <br />1984 1985 128,000 <br />1985 1986 124,000 <br />1986 1987 119,850 <br />1987 1988 115~500 <br />1988 1989 111,050 <br />1989 1990 11"9,500 <br />1990 1991 116,750 <br /> <br />Said tax levies are such that if collected in full <br />they, together with estimated collections of special assess- <br />ments for the payment of said bonds, will produce at least <br />five per cent in excess of the amount needed to meet when due <br />the principal and interest pa~nents on the bonds. <br /> <br />Said tax levies shall be irrepealable so long as <br />any of said bonds are outstanding and unpaid, provided that <br />the Village reserves the right and power to reduce the lev- <br />ies in the manner and to the extent permitted by Section <br />475.61(3)M.S.A. <br /> <br />-9- <br />