The mayor and board of aldermen, for the erection of a municipal and school buildings,
and the purchase of land therefor and the improvement and adornment thereof; for the
erection and purchase of waterworks, boring or sinking artesian wells; the erection
of gas, electric light, and other plants; the establishment of a sewerage system,
the protection of the municipality from overflow, the bridging of bayous and streams
within said town, improving and paving the streets, and for the liquidation of debts
of the municipality, may issue the bonds of the town, not to exceed in amount, including
all outstanding bonds, seven per centum of the taxable property thereof appearing
on the assessment rolls of the preceding year.
(Ord. of 6-21-1919, § 3)
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