(A) Not later than the second Monday in August of each year, the Council, at a regular meeting, shall, by ordinance or resolution, levy on the real and personal property within the city made taxable by law.
(B) The levy shall not exceed the limitations that are or may hereafter be prescribed by the laws of the state.
(C) The City Recorder shall certify the ordinance or resolution making the levy to the County Auditor or Clerk, as the case may be, immediately after the passage of the same.
(Prior Code, § 2.03.070)