§ 22 RATE OF TAXATION NOT TO EXCEED ONE DOLLAR NINETY CENTS PER ONE HUNDRED DOLLARS VALUATION OF TAXABLE PROPERTY; SUBJECT TO BE INCREASED TO TWO DOLLARS FIFTY CENTS PER ONE HUNDRED DOLLARS OF VALUATION, PROVIDED SUCH INCREASE BE VOTED BY THE ELECTORATE IN ELECTIONS HELD TO DETERMINE SAME FROM TIME TO TIME.

   The limit of taxation for all municipal purposes shall not exceed one and ninety/one-hundredths ($1.90) dollars per annum on each one hundred ($100.00) dollars valuation of all taxable property situated within the limits of the city, such rate to be fixed and determined by the Council annually when passing the appropriation ordinance.

   The said rate of taxation may be annually increased, from time to time, by the council until the constitutional limit of two and fifty/one-hundredths ($2.50) dollars on each one hundred ($100.00) dollars valuation of taxable property, shall have been reached; provided that any increase of the annual rate of taxation beyond the one and ninety/one-hundredths ($1.90) dollars limit here established shall never be valid unless first authorized by a majority vote of the qualified voters participating in an election lawfully held for that purpose. No more than one election in any one year shall ever be held for such purpose.