To the extent permitted under and in accordance with the Constitution of the commonwealth and other applicable laws and regulations, proceeds anticipated to be derived, and the proceeds held in the Street Repair Fund and the Acquisition Fund so derived, respectively from the special ad valorem taxes levied hereunder may be pledged, encumbered, and/or expended to pay the principal and interest on any indebtedness incurred, including bonds issued, by the city to carry out and perform the project or the Acquisition Project, respectively.
(2010 Code, § 54.04)