The city may finance the acquisition of privately owned utility properties, the purchase of land, and the cost of all construction and property installation for utility purposes by borrowing, in accordance with the provisions of Article XIX of this Charter. Appropriate provisions shall be made however, for the amortization and retirement of all bonds within a maximum period of forty (40) years. Such amortization and retirement may be effected through the use of depreciation funds or other financial resources provided through the earnings of the utility.
(Special Acts, Ch. 61-2711, § 8; Ref. of 3-9-76)