9-40-11. Ordinance provisions for utility operation and security of bondholders.
62 words·~1 min read·
/sd/title-9/chapter-9-40/9-40-11A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A municipality acquiring, adding to, improving, or extending any utility under the provisions of this chapter may provide by ordinance or resolution duly adopted by its governing body any such lawful provisions and stipulations for the proper operation and maintenance thereof, the administration of the income and revenues, and for the security of the bondholders as the governing body may deem necessary.