The city shall also have the power to issue from time to time excise tax bonds or certificates, payable from revenues derived from utilities service taxes, cigarette taxes, franchise taxes, occupational license taxes, or any other excise taxes or other funds which the city may have available to pledge to the payment of the principal of and interest on said excise tax bonds or certificates, except monies derived from ad valorem taxes, to finance or refinance the cost or part of the cost of the construction, acquisition, reconstruction, extension, repair or improvement of any works, properties, improvements or other purposes, except for the payment of current expenses, which the city is authorized by this Charter or any other law to construct, acquire or undertake; provided, however, no such excise tax bonds or certificates shall be issued unless and until the same have been approved at a referendum election, which said referendum election shall be the same in all respects as that required by Section 159 of Article XVIII hereof. Except as otherwise provided in this section, the provisions of all other sections of Article XIX regarding the issuance of revenue bonds or certificates shall also apply to the issuance of excise tax bonds or certificates.
(Special Acts, Ch. 61-2711, § 2; Ch. 63-1826, § 19; Ch. 67-1949, § 17; Ref. of 3-9-76)
Editor's note:
Section 2 of Ch. 61-2711, ratified by the electors on August 15, 1961, amended Ch. 57-1754 to add a new section 172(a). To preserve the numbering scheme of this Chapter, the editors renumbered Section 172(a) as Section 172.1.