The city hereby levies an ad valorem tax on real property at the rate as established by the City Commission on each $100 of assessed valuation. In the event that the rate is subsequently determined by a court of last resort to be excessive, then the city hereby adopts the maximum ad valorem tax rate allowed by law in lieu of the rate established as set forth above.
(Ord. 91-5, passed 8-5-91; Am. Ord. 92-7, passed 6-1-92; Am. Ord. 93-3, passed 3-1-93; Am. Ord. 94-4, passed 3-15-94; Am. Ord. 95-2, passed 2-6-95; Am. Ord. 96-2, passed 2-5-96; Am. Ord. 97-2, passed 1-13- 97; Am. Ord. 98-2, passed 2-7-98)