In order to meet the principal and interest of such bonds as they mature, the auditor of the county or the clerk of the council of any town or city shall annually levy upon all of the property of such county, township, city or town taxes not exceeding two mills and for a period of time not exceeding twenty years, the proceeds from such levy to be paid out by the proper officers for the retirement of the principal and interest on any bonds sold.
HISTORY: 1962 Code Section 32-806; 1952 Code Section 32-806; 1942 Code Section 5141; 1932 Code Section 5141; 1925 (34) 239.
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