Authority to incur debt ACTIVE

Garbage districts created hereunder may incur indebtedness and issue and sell negotiable bonds in an amount not exceeding ten per cent of the assessed valuation of taxable property of said district for the purpose of acquiring, installing or constructing and equipping garbage collection and disposal works. Such bonds shall be issued and sold by the governing authority of the district in the same form and manner as is provided for the issuance and sale of bonds of other political subdivisions by Act 18 of the First Extraordinary Session of 1975, 1 and acts amendatory thereof. For the payment of the principal and interest of the bonds, the governing authority of the garbage district shall levy an annual ad valorem tax on all taxable property in the district, in the manner provided for the payment of principal and interest of bonds of other political subdivisions by Act 18 of the First Extraordinary Session of 1975, and acts amendatory thereof.