13-2426. Same; limitation; lien upon plant.
13-2426
13-2426. Same; limitation; lien upon plant.
The amount of the bonds which may be issued under the provision of this
act for the purchase or extension of the water plant shall not be in excess
of ten percent of the assessed valuation of such city, and bonds to such
percentage may be issued regardless of any other statute of limitation, and
the bonds issued under this act shall not be counted under any statute of
limitations for the issuance of bonds for other purposes, and all bonds
issued under the provisions of this act shall be a direct lien upon said
waterworks plant, payment of which shall be guaranteed by the city at
large.
History: L. 1937, ch. 143, § 13; March 16.