250.060. Bonds may be issued--vote required--election--form of ballot--annual tax to be levied.
Bonds may be issued--vote required--election--form of ballot--annualtax to be levied.
250.060. 1. Bonds of any such sewer district, payablefrom taxes, may be issued for the purpose of improving andextending the sewerage system of the district upon the approvalof a proposition to issue such bonds by the constitutionallyrequired percentage of the voters voting on the question.
2. The question shall be submitted in substantially thefollowing form:
Shall ......... (name of city or district) issue bondspayable from taxes?
3. Before any sewer district shall incur any indebtednessevidenced by bonds payable from taxes as hereby authorized, suchsewer district shall provide for the collection of an annual taxon all taxable tangible property therein sufficient to pay theinterest and principal of the indebtedness as they fall due andto retire the same within twenty years from the date contracted.
(L. 1951 p. 638 § 5, A.L. 1978 H.B. 971, A.L. 1990 H.B. 1621)