15-244 Money; power to borrow; pledges to secure; issuance of bonds; purposes; conditions.
15-244. Money; power to borrow; pledges to secure; issuance of bonds; purposes; conditions.A primary city may borrow money on the credit of the city and pledge the credit, revenue and public property of the city for the payment thereof when authorized in the manner herein provided, and in the manner otherwise provided by law or by the home rule charter of the city. It shall have the power to issue general obligation bonds of the city, general obligation notes, and refunding bonds, as provided in its home rule charter or as otherwise provided by law. It shall have the power to issue revenue bonds for the purpose of acquiring, constructing, reconstructing, improving, extending, equipping, or furnishing any revenue-producing facility within or without the city which is for a public purpose; Provided, that unless authorized by a majority of the voters of such city voting upon the question, no revenue bonds shall be issued for entering the public transportation, natural gas distribution or telephone fields or functions, or to acquire before 1972 that part of a retail distribution system of a public power district within the corporate limits of such city as those corporate limits existed on March 3, 1959. Such city shall also have the power to contract for the acquisition of the electric facilities and properties used or useful in connection therewith of a public power district within or without the city, and to pay for all or any part of the same out of the earnings of electric facilities and properties. SourceLaws 1901, c. 16, § 129, XLIV, p. 138; R.S.1913, § 4454; C.S.1922, § 3839; C.S.1929, § 15-242; R.S.1943, § 15-244; Laws 1965, c. 45, § 1, p. 244.