Section 14-199-202 - Authorized use

Any municipality owning an electric power plant or a water system, where the plant or system has no bonded indebtedness, is authorized to use the profit derived from the operation of the plant or system toward the payment of the outstanding bonded indebtedness of all sewer or street improvement districts within the limits of the municipality, as provided in this subchapter.Acts 1937, No. 267, § 1; Pope's Dig., § 10042; A.S.A. 1947, § 19-3901.