§ 36.01 AD VALOREM TAXES.
   The City Council shall annually levy and cause to be collected, for the purpose of raising revenue for defraying the expenses incident to the proper government of the city and for other purposes authorized by law, an ad valorem tax on all taxable property in the city at a rate not exceeding that which is specified in the G.S. § 160A-209(d).
('69 Code, § 21-1)