(A) The Board of Public Works and Safety in the carrying out of any project under the Thoroughfare Plan adopted by this chapter shall consider and determine what proportionate part of the cost of that project, or of any separate phase of improvement thereunder, shall be paid by the city out of the Thoroughfare Fund, including any increase of damages ordered by any court on appeal, as benefit to the city at large, and, at that time, shall determine the amount, if any, of the total cost of any phase of improvement under those projects, including damages awarded by the Board, which shall be assessed as benefits upon the real estate within a special benefit district.
(B) In the event the cost of acquisition and the benefits assessed against the city by reason of any project shall, at any time, be in excess of the amount of money then standing to the credit of the Thoroughfare Fund of the city, the Common Council shall have the power by ordinance to issue a bond in a sum sufficient to pay for that benefit, or any part thereof, as it may deem necessary, the same to be issued and sold in the same form and manner and with the same rate of interest and with those maturities as are by law provided for the issuance and sale of bonds of the city for the general purposes thereof, and the proceeds of the sale of those bonds shall be deposited in, and credited to, the Thoroughfare Fund, to be used in the payment for that cost of acquisition and the benefits assessed against the city at large and any increased damages which may be ordered paid by any court on appeal.
('71 Code, § 130.12)