The aggregate amount of taxes that may be levied by the Council outside the limitation imposed by Article XII, Section 2 of the Ohio Constitution without a vote of the people on property assessed and listed for taxation for current operating expenses of the Municipality including the necessary levies for police and fire relief and pension funds, as required by general law, shall not exceed in any one year 2.6 mills for each one dollar of assessed valuation; provided that said 2.6 mills shall be reduced in each year by the number of mills or fractions thereof required in the same year for the payment of interest and principal of notes and bonds referred to in Section 16.02 of this Charter.