The Council shall have no power to adopt and levy a municipal income tax without a majority vote of the electors voting on such levy.
The Council shall have no authority, without a vote of the people, to levy taxes upon the tax lists or duplicates of property assessed and listed for taxation according to value for all purposes of the City of Vandalia, its boards, departments, and institutions, beyond the limitation set by the Constitution of Ohio, except in amounts not in excess of the total maximum levies for the years specified as follows:
For the years 1960 to 1964, both inclusive, an amount not to exceed three mills upon each dollar of assessed valuation on the tax list or duplicate beyond the limitation set by the Constitution of the State of Ohio; for the year 1965 and thereafter, a total amount not to exceed five mills upon each dollar of assessed valuation on the tax list or duplicate beyond the limitation set by the Constitution of the State of Ohio.
Out of the said total maximum amounts derived from the above mentioned levies, an amount shall be retained annually sufficient to pay the interest, sinking fund, and retirement charges on all bonds and notes of the City of Vandalia now or hereafter authorized to be issued without further authority of the electors. This levy in its full amount shall be placed before and in preference to all other levies.
The remaining portion of the said total maximum levy, not exceeding three mills, and commencing with the year 1960, and 1965, and continuing thereafter from both dates, may be used for the general fund of the City of Vandalia.
Any taxes beyond the limit set by the Constitution of Ohio, other than those provided in this Charter, must be approved by a majority of the electors voting at any election wherein the tax levy question, issue, or proposition has been authorized by resolution of Council, stating the purpose, rate, and number of years of said tax.
For special benefits conferred upon property by any municipal work, service or improvement, the Council shall have power to provide by ordinance to levy and collect taxes in the form of special assessments as provided in the general laws of the State of Ohio.