Sec. 7-503. Chapter grants no authority for municipality to acquire, own, develop or improve real property outside its borders.

      Sec. 7-503. Chapter grants no authority for municipality to acquire, own, develop or improve real property outside its borders. Nothing in this chapter shall be construed to give authority to a municipality to proceed under this chapter to acquire, own, develop or otherwise improve real property outside of its own borders.

      (July Sp. Sess. P.A. 75-2, S. 24, 25.)