The city may incur indebtedness by issuing its negotiable bonds, pursuant to this charter, to finance any capital project, which it may lawfully construct or acquire, or for any legitimate public purpose.
The bond election ordinance shall provide for proper notice, the calling of the election, the propositions to be submitted and for the form of the ballot. The ordinance shall specify:
(1) 
The purpose of which the bonds are to be issued
(2) 
The amount thereof
(3) 
The maximum rate of interest
(4) 
The levy of taxes sufficient to pay interest and sinking fund or retirement of principal
(5) 
That the bonds to be issued shall mature serially within a given number of years
The bond election ordinance and the manner of conducting the election shall, in all aspects, conform to this charter and the general laws of this State.
The city shall authorize the issuance of bonds by a “Bond Ordinance” passed by the affirmative votes of the majority of all members of its council. Revenue bonds may be issued by the council under the authority of Articles 1111-1118, Revised Civil Statutes of Texas, 1925, as amended and all other applicable provisions of law and the Bond and Warrant Law of 1931.
An ordinance passed pursuant to a purpose, which has been authorized by majority vote of the property taxpaying voters of the city of Cameron at an election held for the purpose shall not be subject to referendum.
A bond ordinance may combine two or more related projects, in which event it shall, for each project, establish a separate proposed expenditure and state separately the estimated maximum costs and amounts of down payments, but shall authorize a single issue of bonds to finance the aggregate of the proposed expenditures thereby made. The title of such bond ordinance may state the aggregate of the proposed expenditures instead of the respective amounts.
Each bond ordinance relating to bonds not authorized by the qualified property taxpaying voters of the city of Cameron, shall be subject to permissive referendum on petition pursuant to the provision of Article IX of this Charter, unless the bonds are authorized solely for a capital purpose made necessary as the result of fire, flood, or other disaster, or the bonds are to be issued to finance the improvement or extension of a municipally owned or operated utility or other public service enterprise.
All bonds issued under this Charter shall be sold at public sale upon sealed proposals after at least ten days notice published at least once in a publication carrying municipal bond notices and devoted primarily to financial news, and at least ten days notice published at least once in the official newspaper of the city; provided, however, that this requirement shall not apply when refinancing is to be done by the issuance of refunding bonds or new money bonds.