§ 14-8. The council may acquire utilities.

The council, upon behalf of the city, shall have the power from time to time:

(a)

Within or without the territorial limits of the city:

(1)

To construct, condemn, purchase, lease, and otherwise acquire a municipal waterworks system, storm sewer system, sanitary sewer system and sewage transportation and disposal facilities, gas works, light plants, power plants, heating plants, transportation system, telephone system, and other public utilities local in use and extent, in whole or in part, and everything required therefor, for the use of the city and the inhabitants thereof, upon the approval of a majority of the taxpaying electors of the city voting upon a proposal therefor at any regular municipal, primary, general, or special election;

(2)

To purchase or otherwise acquire, without any election, in relation to or in connection with any such works, facilities, plants, systems, and other utilities of the city, the whole or any part of any real or personal, or both real and personal, property, any interest therein, or any contract appertaining thereto, as the council may determine; and

(3)

To operate, maintain, conduct, add to, extend, better, reconstruct, and otherwise to improve, without any election, any such works, facilities, plants, systems, and other utilities of the city;

(b)

To issue city revenue bonds, upon the approval of a majority of the taxpaying electors of the city voting upon a proposal therefor at any regular municipal, primary, general, or special election, for the purpose of defraying wholly or in part the costs of any such acquisition or of any such improvement of any such municipal works, facilities, plants, systems, and other utilities, including without limitation any incidental and other costs of the project;

(c)

To issue refunding revenue bonds by ordinance only;

(d)

To redeem any revenue bonds and to pay any other obligations incurred in connection with any such municipal utility from the revenue derived from its operation, but not to issue general obligation bonds for gas works, light plants, power plants, telephone systems, or transportation systems other than airport facilities, nor to redeem any such revenue bonds out of general taxes nor to pay out of general taxes any such other obligations incurred in connection with gas works, light plants, power plants, telephone systems, or transportation systems, other than airport facilities; and

(e)

To charge fees and rates in connection with each municipally acquired utility, and whenever any utility revenue bonds be outstanding, such fees and rates shall be charged in an amount, at least sufficient annually to pay, as the same become due, the principal of and the interest on the city's outstanding revenue bonds and all expenses of maintaining and operating such public utility.

(Ord. No. 7-1963, § 1, 8-27-63, election 11-5-63)