In any fiscal year in which the City Council determines that the full amount of the special ad valorem taxes levied hereunder are not necessary to fund the Project or the Acquisition Project, respectively, the city may by ordinance in any fiscal year reduce the rate of the special ad valorem tax or taxes, as applicable, for such year below the amount set forth herein. In any fiscal year following the fiscal year for which the special ad valorem tax rate or rates may have been reduced by ordinance, the special ad valorem tax rate or rates shall revert to the maximum amounts as set forth in this subchapter unless reduced for such subsequent year by ordinance.
(2010 Code, § 54.05) (Ord. 5, 2012, passed 3-12-2012)