1.  A board, in certifying annual levies, must take into account the maturing general obligation indebtedness for the ensuing year as provided in its contracts, maturing general obligation bonds and interest on such bonds, and deficiencies and defaults of prior years, and make ample provision for the payment thereof.

2.  If the money produced from such levies, together with other revenues of the district, is not sufficient punctually to pay the annual installments on such obligations, and interest thereon, and to pay defaults and deficiencies, the board shall make such additional levies of taxes as may be necessary for such purposes, and such taxes must be made and continue to be levied until the general obligation indebtedness of the district is fully paid but must not continue after that date.