report. An airport authority may request annually from the governing bodies of the municipalities within the authority, an amount of tax to be levied by each municipality, and the municipalities may levy the amount requested, under the law authorizing cities and other political subdivisions of this state to levy taxes for airport purposes. With its levy request under this section, an airport authority may certify its current and anticipated revenues and resources, any anticipated revenue shortfall for bonded debt payment, and the amount necessary from its property tax levy authority for its annual principal and interest payment for bonded debt incurred under this chapter. If the authority finds the certified amount is necessary for the annual bonded debt payment, the municipality shall levy for the airport authority not less than the certified amount. In the year for which the levy is sought, an airport authority that is not a city or county governing body and which is seeking approval of a property tax levy of a city or county governing body under this chapter shall file with the auditor of each participating city or county, at a time and in a format prescribed by the auditors, a financial report for the preceding calendar year showing the ending balances of each fund held by the airport authority during that year. The levy made may not exceed the maximum levy permitted by the laws of this state for airport purposes. The municipality shall collect the taxes levied for an airport authority in the same manner as other taxes are levied and collected. The proceeds of the taxes must be deposited in a special account in which other revenues of the authority are deposited , and may be expended by the authority as allowed under this chapter. Before the issuance of bonds under section 2 -06-10, the airport authority or the municipality may by resolution provide its commitment under section 2 -06-10 that the total amount of taxes then authorized by law, or such portion as may be specified by the resolution, will be certified, levied, and deposited annually until the bonds and interest are fully paid.
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