The Governing Body may, after meeting all the requirements of state law, issue bonds, fund bonds, and retire bonds for the purposes as may be permitted by state law. The Governing Body shall have the authority to levy special assessments for the payment of interest and principal on the bonds, and may spread the payments up to the maximum number of years permitted by state law.
(Neb. RS 18-1801 through 18-1805, and 39-836) (1972 Code, § 1-1022)