All proceeds of the tax levied and imposed under this chapter shall be paid into the general fund for use by the City of Larkspur for general municipal services. The City Council is authorized to incur indebtedness in the form of bonds, notes, contractual obligations or other evidences of indebtedness authorized by law to finance or refinance the costs of capital projects, including but not limited to street and storm drain repair and improvement, and to pay any and all costs of issuing or incurring such indebtedness, to fund reserve funds, capitalized interest, costs of credit enhancement, costs of interest rate hedging arrangements or any other financing costs associated with such indebtedness. Such indebtedness shall be solely payable from, and may be secured by a pledge and lien on, the proceeds of the tax levied and imposed hereunder. The annual indebtedness, including principal and interest, shall not exceed the estimated annual proceeds of the tax authorized by this chapter. (Ord. 1030 § 2(3), 2018; Ord. 1022 § 2, 2017; Ord. 1019 § 2, 2017)