There shall be and there is levied hereby an ad valorem tax on all property, except that which may be by the Constitution and laws exempt from taxation, within the corporate limits of the city, for the erection, construction and purchase of public buildings, streets, sewers and other permanent improvements, and for the operation of the police and health regulations and the administration of the city government, and to provide an interest and sinking fund for any indebtedness of the city.
(1981 Code, § 13.1)