The City Commission shall have the authority to issue financial instruments For such purposes as are specifically authorized by statute, including, but not limited to street improvements, construction of sewers, utilities, and other public works as the City Commission may from time to time deem expedient. The City Commission shall have the right and power to borrow money upon the credit of the City by the issuance of financial instruments provided the same complies with the laws of the State of Texas concerning the same.