10-7-7. Bond issues for water, light, and sewers.
(1) A city of the first or second class may incur an indebtedness, not exceeding in the
aggregate with all other indebtedness 8% of the value of the taxable property in the city, for the
purpose of supplying the city with water, artificial light, or sewers, when the works for supplying
the water, light, and sewers are owned and controlled by the city.
(2) A city of the third, fourth, or fifth class or a town may become indebted to an amount
not exceeding in the aggregate with all other indebtedness 12% of the value of the taxable
property in the city or town for the purpose of supplying the city or town with water, artificial
light, or sewers, when the works for supplying the water, light, and sewers are owned and
controlled by the city or town.
Amended by Chapter 292, 2003 General Session
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Last revised: Thursday, May 28, 2009