§ 3613. Taxes, bonds

For the purpose of adequately making disposal of sewage within its boundaries, successfully organizing, establishing, and operating its sewage plant, sewage disposal plant, or some form of sewage treatment plant, and making such improvements as may be necessary, a municipal corporation may from time to time: purchase, take, and hold real and personal estate; borrow money; levy, and collect taxes upon the ratable estate of the municipal corporation necessary for the payment of municipal corporation sewage and sewage disposal expenses and indebtedness; issue for the purposes hereof evidences of indebtedness pursuant to chapter 53, subchapter 2 of this title or its negotiable bonds pursuant to chapter 53, subchapter 1 of this title, provided, however, that bonds so issued (1) shall not be considered as indebtedness of such municipal corporation limited by the provisions of section 1762 of this title, (2) may be paid in not more than 30 years from the date of issue notwithstanding the limitation of section 1759 of this title, (3) may be authorized by a majority of all the voters present and voting on the question at a meeting of such municipal corporation held for the purpose pursuant to chapter 53, subchapter 1 of this title notwithstanding any provisions of general or special law which may require a greater vote, and may be so arranged that beginning with the first year in which principal is payable, the amount of principal and interest in any year shall be as nearly equal as is practicable according to the denomination in which such bonds or other evidences of indebtedness are issued notwithstanding other permissible payment schedules authorized by section 1759 of this title. (Amended 1959, No. 207, § 2; 1961, No. 96, eff. May 3, 1961; 1971, No. 166 (Adj. Sess.), § 2, eff. March 22, 1972.)