For the purpose of providing funds with which to acquire, construct and maintain a sewage disposal plant for the City of Brookings, construct intercepting sewers, out-fall sewers, pumping stations, pressure lines and to purchase all equipment necessary therefor, all for the City of Brookings, and for the purposes, necessities, uses and conveniences of said City of Brookings and the inhabitants thereof, the Council of the City of Brookings is hereby authorized and empowered to issue and sell bonds of said City in an amount not to exceed $3,200,000.00 notwithstanding any debt limitation or restriction now contained or provided in or by the Charter of the City of Brookings or any amendments thereof. The debt limitations or restrictions contained in or provided by the Charter of the City of Brookings or amendments thereof, may incur, or any provision or amendment of said Charter regulating the issuance and sale of bonds, shall not apply to the bonds hereby authorized or the indebtedness created by the issuance of such bonds.
Said bonds shall be payable as to both principal and interest from taxes levied upon the taxable property within the corporate limits of the City of Brookings and from rates and charges established from time to time by the City Council. The bonds to be issued hereunder shall be known as “City of Brookings Sewage Disposal Bonds, Series of 1988". Said bonds shall be negotiable in form. The Council shall prescribe, fix and determine the form, date or dates, denomination or denominations, date or dates of maturity, rate of interest, time and place of payment of principal and interest, and all other matters not herein provided for or respecting said bonds. Said bonds shall be general obligations of the City of Brookings and shall be signed by the Mayor and countersigned by the City Recorder under the corporate seal of the City of Brookings and shall be sold by the Council from time to time in such amounts as the Council may, in its judgment, determine to be necessary to provide funds for the purposes for which said bonds are to be issued. The interest coupons shall bear facsimile signatures of both the Mayor and City Recorder.
The proceeds from the sale of said bonds shall be deposited by the City Recorder in a special fund to be known as the “Brookings Sewage Disposal Construction Fund” and shall be used for no purpose other than to construct, build, equip, own, acquire, operate and maintain within and without the corporate limits of the City of Brookings, in whole or in part, a sewage treatment disposal plant and the facilities thereof, to provide a sanitary means of disposing of the sewage of said City with all appurtenances necessary, useful or convenient for the treatment and disposal of sewage for the use and benefit of the inhabitants thereof, and to acquire rights of way, easements, personal property and real property within and without the City for said purposes, necessities, uses and conveniences, and to construct out-fall and intercepting sewers, pumping stations, pressure lines and all equipment, and for legal and engineering expense in connection therewith.
The Council of the City of Brookings is hereby authorized to adopt plans and specifications for such sewage disposal plant, sewers, and pumping stations and to estimate the cost of the same and of such work and to enter into such contracts as shall be necessary and proper to carry on such work, or to do said work, or any part thereof, with City forces and employees and equipment; to do any and all acts or things necessary or requisite to be done to that end, and to order the cost and expense thereof to be paid from said construction funds. The Council is further authorized and empowered in behalf of the City of Brookings to apply for and obtain such Federal aid, grants, funds or assistance to aid in paying the cost of said improvements, or any part thereof.
The Council is hereby authorized and required at the time of making the annual tax levy for city purposes each year to levy, in addition to all other taxes upon taxable property of the City, such sum as shall be necessary to meet and pay the interest on said City of Brookings Sewage Disposal Bonds, Series of 1988, and the principal of said bonds as it matures, provided that the rates and charges herein established are at any time insufficient to pay such interest and principal amounts.