§ 909. BONDED DEBT OR TAX LEVY.

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Whenever the City Council shall determine that the public interest requires the construction or acquisition or completion of any public improvement or utility, the cost of which, in addition to the other expenditures of the City, will exceed the income and revenue provided for in any one year, it may, by ordinance, submit a proposition to incur a general obligation bonded indebtedness and specifying the maximum interest rate thereof, or levy a special tax for such purpose, and proceed therein as provided in Section Eighteen of Article Sixteen of the Constitution of this State and general law or laws thereof, and that the bond issue therefor shall be sold to the highest bidder, after advertising for sealed proposals; provided that the City Council may reject any and all bids.

(Sec. 909 amended by vote of the people 3-9-1993: Sec. 909 amended by Stats 1971.)

                    
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