7-13-4103: Limitation on indebtedness for acquisition of natural gas system.

The total amount of indebtedness authorized to be contracted in any form, including the then-existing indebtedness, may not at any time exceed 0.92% of the total assessed value of taxable property, determined as provided in 15-8-111, within the city or town, as ascertained by the last assessment for state and county taxes.