Tax Levy for Indebtedness of Prior Districts

Section 653. Tax Levy for Indebtedness of Prior Districts.--Any school district of the first class assuming any bonded indebtedness of any former school district, sub-school district, or ward school district within its limits, may levy and collect a school tax, not to exceed eight and one half mills on the dollar of the total assessment of all property assessed and certified for taxation therein, until such assumed bonded indebtedness has been paid, after which such school tax levy shall not exceed the limitations fixed by the preceding section of this act.