The council may provide for the refunding of the outstanding indebtedness of improvement districts located within the city, which were created according to law after December 31, 1925, in the manner hereinafter provided. Unless specified to be otherwise, as referred to in this article, outstanding indebtedness may be in the form of outstanding improvement district bonds or general obligation bonds.
(Sec. 24-6.1, R.O. 1978 (1987 Supp. to 1983 Ed.)) (1990 Code, Ch. 14, Art. 28, § 14-28.1) (Am. Ord. 90-91)