249.136. Indebtedness authorized — limitations — election required.

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249.136. Indebtedness authorized — limitations — election required. — 1. Any sewer district organized under sections 249.010 to 249.420 , or whose boundaries have been extended as provided, shall have the power to incur further indebtedness of the district and issue bonds of the district therefor for the purpose of providing a sewer system for the district, as provided by sections 249.010 to 249.420 , or for enlarging, replacing, repairing, modifying, improving or extending the same, to make an effective and complete sewer system or to provide funds to pay any obligation incurred or which may be incurred by contract with any other district or municipality or other public agency for the construction, use or maintenance of common or joint sewers, drains, outlets and disposal plants, provided such indebtedness together with all existing indebtedness of such district shall not exceed in the aggregate five percent of the value of all taxable tangible property in such district to be ascertained by the last completed assessment of property for state and county purposes prior to the incurring of such indebtedness, and provided further that the constitutionally required percentage of the voters of such district voting on the proposition to incur such indebtedness shall assent thereto.

2. The question shall be submitted in substantially the following form:

Shall the ______ sewer district issue bonds in the amount of ______ dollars payable from taxes?

3. Any bonds issued as provided herein shall be issued in accordance with the provisions relating to the original issuance of bonds hereunder; provided, however, the amount of bonds to be so issued shall be determined by the board of trustees and in determining the amount the board of trustees shall not be limited by any estimate of costs herein provided to be made by the engineer at the time of the incorporation of such district or the extension of its boundaries.

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(L. 1951 p. 627 § 249.102, A.L. 1978 H.B. 971, A.L. 1990 H.B. 1621)