The Council shall levy annually, without a vote of the people, a tax on property assessed and listed for taxation according to value at a rate sufficient to provide amounts necessary to pay, to the extent not paid from other sources, the debt charges on all general obligation bonds and bond anticipation notes lawfully issued by the City and the expenses incident to the management of the bond retirement fund, which levy shall be placed before and in preference to all other levies. The Council may also levy, without a vote of the people, (i) the tax levy for police and fire pensions prescribed by division (B) of Sections 742.33 and 742.34 of the Revised Code or any successor provisions and (ii) a tax levy to provide funds to pay costs of permanent improvements the City is authorized to acquire, construct or improve. The levies authorized and made pursuant to this Section shall be outside of limitations provided in Article IX, Section 1 of this Charter, but subject to the ten-mill limitation imposed by law.
(Approved by voters November 7, 2006)