§ 26-12. Issuance of bonds.

The city may issue bonds to finance or refinance the stormwater collection program and use the revenues of the stormwater collection program to pay all or a portion of the debt service associated with such bonds. All such bonds shall require an authorizing resolution of the city commission. In connection with the issuance of bonds, the city may pledge the revenues of the stormwater collection program, or may covenant to budget and appropriate the revenues of the stormwater collection program to support the debt service for the bonds, regardless of the precise extent to which the proceeds of the bonds are used to finance the stormwater collection program relative to other types of public projects or improvements.

(Ord. No. 2018-110, § 3, 11-28-18)