10-507. Tax levy; limit.

The county board of any county issuing bonds under the provisions of sections 10-501 to 10-509 shall levy a tax annually for the payment of the interest on said bonds as it becomes due; Provided, an additional amount shall be levied and collected sufficient to pay the principal of such bonds at maturity; and provided, not more than twenty percent of the principal of said bonds shall be levied and collected in any one year.

Source:Laws 1879, § 138, p. 389; R.S.1913, § 422; C.S.1922, § 339; C.S.1929, § 11-507; R.S.1943, § 10-507.