A. The Borough Assembly shall by ordinance fix the rate of tax levy and designate the number of mills upon each dollar of value of assessed taxable real property that shall be levied, and shall levy the tax in accordance therewith. The Borough Assembly may by ordinance fix the rate of tax levy and designate the number of mills upon each dollar of value of assessed taxable personal property that may be levied and may levy the tax in accordance therewith.

B. Notwithstanding any other provision of this chapter imposing limitations to the total amount of municipal tax that can be levied, imposed or collected during a fiscal year, those limitations do not apply to that portion of the hotel-motel room taxes transferred to the hotel-motel room tax fund pursuant to FNSBC 7.04.090.

C. Notwithstanding any other provision of this chapter imposing limitations to the total amount of municipal tax that can be levied, imposed or collected during a fiscal year, those limitations do not apply to the amount designated by the Borough Assembly in the preceding year as a tax reduction and withdrawn from the General Fund balance in order to reduce the amount of property taxes levied on the taxpayer. (Ord. 2003-45 § 2, 2003; Ord. 2003-44 § 2, 2003; Ord. 2001-26 § 2, 2001; Ord. 80-35 § 2, 1980. 2004 Code § 3.08.140.)