Not later than such date as may be required by state law, the council shall fix the amount of tax levy which shall be assessed upon each dollar of assessed valuation of all taxable property within the corporate limits of the city, and shall cause the same to be certified to the counties as required by law. If council should fail in any year to make such levy as above provided, the rate last fixed shall be the rate for the ensuing fiscal year, which rate shall be levied as by law provided. (Ord. No. 91-47, § 10, 11-13-1991)