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0 Page 9 Section 6. That in order to pay the bonds as they mature, with interest thereon, there is hereby levied upon all taxable real and personal property within the City of Batesville, Arkansas, a continuing annual tax of three and forty-four hundredths (3.44) mills on each dollar of assessed valuation to be collected with the taxes collected in the year 1970 and as long thereafter as may be necessary to pay the principal of, interest on and Paying Agent's fees in connection with the bonds. The City Clerk is directed to transmit a copy of this Ordinance to the County Clerk of Independence County, Arkansas, to the end that the tax may be extended on the tax books of the County and collected annually along with the other taxes until the bonds and interest thereon are paid in full. The City covenants and agrees that all of the revenues from the 3.44 mill tax shall be placed in a separate fund which is hereby created and designated "1969 General Obligation Airport Improvement Bond Fund" ("Bond Fund"), and shall be used solely for the payment of the principal of and interest on the bonds of this issue, and the Paying Agent's fees, as set forth in this Ordinance. The amount of the deposit in excess of that insured by the Federal Deposit Insurance Corporation must be continuously secured by bonds or other direct or fully guaranteed obligations of the United States of America . The City covenants that surplus tax collections, being tax collections over and above the amount necessary to insure the prompt payment of the principal of, interest on and Paying Agent's fees in connection with the bonds as they become due and payable, must be used from time to time on each interest paying date as and to the extent available to call the bonds for payment prior to maturity. Section 7. That for the prompt payment of the bonds of this issue with interest, the City of Batesville, Arkansas, hereby pledges its full faith, credit and taxing power, including the tax levied in Section 6 hereof.