The aggregate amount which the Council may raise by a general tax upon the taxable real and personal property in the City, for the purpose of defraying the general City expenses and liabilities of the corporation, inclusive of debt service, shall not exceed, in any one year, two and one-quarter per centum of the assessed value of all real and personal property in the City, as fixed by the assessment roll of the year in which the tax is levied. There is hereby expressly retained the maximum Municipal tax limitation provided by the Charter in force at the time of the adoption of this Charter.