The Council may at any time subsequent to May 15th and prior to September 15th in any year, declare by resolution, adopted by a vote of two-thirds of all the members elected thereto, that the amount of taxes which may be raised within the limitation of Sections 37-1 and 37-2 of this Charter will be insufficient to provide an adequate amount for the necessary requirements of the City for current operating expenses, and other expenses payable from the General Fund of the City, and such permanent improvements and equipment as shall have an estimated useful life of five years or more and that it is necessary to levy taxes in excess of such limitations, in addition to the levies authorized and limited by Sections 37-1, 37-2, and 37-3 of this Charter, for any Municipal purpose or purposes specified in such resolution. Such resolution shall specify the additional sum which it is necessary to levy, the purpose or purposes thereof, and the additional rate estimated to be required therefor and the percentages of votes to be required. Such resolution shall be effective upon its adoption and shall be certified within five (5) days thereafter to the election authorities, who shall place such question upon the ballot at the next succeeding November election. If a majority of those voting thereon, unless a higher percentage be prescribed by Council, vote for the approval of such additional levy the Council shall immediately make such levy or such part thereof as it finds necessary pursuant to such approval and certify the same to the County Auditor to be placed on the tax list and collected as other taxes, but no such levy shall be made for more than one year.
The authority of the Council to submit additional levies to a vote of the people under authority of the constitution or laws of this State shall not be deemed impaired or abridged by reason of any provision in this Charter contained.
(Effective March 29, 1940)