§ 54-20. Borrowing money; bonds.

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The village council may borrow money and issue bonds of the village therefor in anticipation of the payment of special assessments in one or more special assessment districts, which bonds may be an obligation of the special assessment district or may be both an obligation of the special assessment district and a general obligation of the village. The village council may issue general obligation bonds to defray that portion of the cost and expense of a local public improvement chargeable to the village at large.

(Code 1975, § 1.120)

                    
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