§ 7.02. Purposes for which bonds may be issued.

Bonds may be issued for the purpose of financing the whole or any part of the cost of any capital improvement project and to refund outstanding bonds. A capital improvement is hereby defined to include any public improvement or utility which the city is authorized to undertake, including the acquisition of any property, real or personal, incident thereto, the construction or reconstruction, in whole or in part, of any building, plant, structure, or facility necessary or useful in carrying out the powers of the city, and in the equipment or re-equipment of the same.