Bonds heretofore or hereafter authorized and issued pursuant to this article shall constitute, and they shall so recite, an irrevocable pledge of the full faith and credit and unlimited taxing power of the county to the payment of the maturing principal and interest of such bonds as and when the same respectively mature. In each and every fiscal year that any of such bonds are outstanding, the county shall levy or cause to be levied ad valorem taxes upon all the assessable property within the corporate limits of the county in rate and amount sufficient to provide for the payment, when due, of the interest and principal of all such bonds maturing in each such fiscal year, and in the event the proceeds from the taxes so levied in any such fiscal year shall prove inadequate for the above purposes, additional taxes shall be levied in the succeeding fiscal year to make up any such deficiency. Such pledge of the full faith and credit and unlimited taxing power of the county shall constitute a covenant of the county to levy and collect the taxes hereinabove prescribed. The county may apply to the payment of principal and interest of any bonds issued for any of the above described public facilities, any funds received by it from the state, the United States of America, any agency of instrumentality thereof or any other source, if such funds are granted for the purpose of assisting the county in obtaining any such public facility, and to the extent of any such funds received or receivable in any fiscal year the taxes hereby required to be levied may be reduced proportionately.
In addition to the pledge of the full faith and credit and unlimited taxing power of the county to the payment of any bonds issued pursuant to this article, the county may secure such payment by the additional pledge of any assessments, taxes, fees or charges which the county is authorized and empowered to levy, impose and collect, and to the extent any such revenues received or receivable in any fiscal year are available for debt service, the ad valorem taxes hereinabove required to be levied may be reduced proportionately in such fiscal year. (Mont. Co. Code 1965, § 2-115; 1971 L.M.C., ch. 23, § 5.)