13-1232

Chapter 13.--CITIES OF THE FIRST CLASS
PART I.--GOVERNMENT BY MAYOR AND COUNCIL AND GENERAL LAWS

Article 12.--PUBLIC UTILITIES

     
13-1232.   Same; general obligation bonds; limitations.
The amount of general obligation bonds which may be issued under the provision of this
act for the purchase or extension of the water and light plants shall
not be in excess of ten percent of the assessed valuation of such city regardless
of any other debt limitation
statute, and they shall not be
counted under any statute limiting the issuance of general obligation bonds for
other purposes.

     
History:   L. 1929, ch. 126, § 13; L. 1980, ch. 72, § 12; April 14.