...in tion not anticipation of the collection of taxes for amounts actually con- a|11'11"" "• tained, or to be contained in the taxes for the year when...bonds are issued and payable out of such taxes ; nor to prevent the city of New York from issuing bonds to be redeemed out of the tax levy for the year...

...indebtedness or ed revenue bonds in anticipation of the collection of taxes for amounts ** £™j. actually contained, or to be contained in the taxes for the year authorized, when such certificates of indebtedness or revenue bonds are issued, but not to exceed in...

...further amount until such indebtedness shall be reduced within such limit. This section shall not be construed to prevent the issuing of certificates of...or to be contained in the taxes for the year when * As amended November 6, 1917. Article VIII — Continued. such certificates or revenue bonds are issued...

...produce an amount equal to the sum of the principal and interest of said bonds at their maturity. All certificates of indebtedness or revenue bonds issued in anticipation of the collection of taxes, which are not retired within five years after their date of issue, and bonds issued to provide...

...excluded in the operation of the constitutional amendment. One of these excepted classes comprises " certificates of indebtedness or revenue bonds issued...revenue bonds are issued and payable out of such taxes. Inasmuch as no appropriation for this purpose is included in the tax levy, I am of the opinion that...

...January. 1910, of which so much as is germane to the question under consideration is as follows : "All certificates of indebtedness or revenue bonds issued in anticipation of the collection of taxes, which are not retired within five years after their date of issue, and bonds issued to provide...

...amendment (section 2 of Article VIII.), among other things, provides : " Nor shall this section b; construed to prevent the issue of bonds to provide...for the supply of water, but the term of the bonds issue'l to provide for the supply of water shall not exceed twenty years, and a sinkmg; fund shall...

...provisions: "This section shall not be construed to prevent the issuing of certiflcates" in certain cases; "nor shall this section be construed to prevent the...issue of bonds to provide for the supply of water, " etc. These limitations of construction both had reference to some limitation of power, and the only...

...certificates of indebtedness or revenue bonds issiveu in anticipation of the collection of taxes of amounts actually contained or to be contained in the...for the year when such certificates or revenue bonds aie issued and payable out of such taxes. Nor shall this section be construed to pi-event the issuing...

...the assessed valuation, of the real estate subject to taxation," and that such section " shall not be construed to prevent the issue of bonds to provide for the supply of water, but the terms of " such bonds "shall not exceed twenty years, and a sinking fund shall be created on the issuing...