40-34-14. Payment of bonds by taxation - Limitations

40-34-14. Payment of bonds by taxation - Limitations Municipalities issuing bonds under this chapter, the principal or interest of which are not to be paid out of funds created from service charges as provided in this chapter, may raise such sum annually by taxation as the governing body or the respective governing bodies may deem necessary to pay the interest on such bonds and to create a sinking fund to pay the principal thereof as it falls due, but the amounts so raised shall not exceed in amount the limitations provided in chapter 21-03.