Sec. 3.  Money and bonds.
   The City of Yuma shall possess the power to borrow money for any of the purposes which the City is authorized to provide, and for carrying out any of the powers which the City is authorized to enjoy and exercise, and to issue bonds therefor; provided, that in the procedure for the creation and the issuance of such bonded indebtedness, the general laws of the Constitution and statutes of the State of Arizona in force at the time of such proceedings are taken shall be observed and followed. (Gen. Elec. 12/6/77; Gen. Elec. 11/6/01)