§ 12.5. General obligation special improvement bonds.

Whenever any portion of the cost of any improvement shall be assumed by or charged to the city at large and the balance of such cost assessed to the property benefited, if the Council shall provide for the payment of the city's portion of such cost in installments, then in such case, bonds may be issued in anticipation of the payment of the amount assessed to the city at large the same as they may be issued in anticipation of the payment of the amount assessed to the benefited property. There shall be appropriated each year an amount sufficient to pay such bonds issued against the city's portion when the same fall due. Nothing in this section shall be construed to require the financing of the city's portion of the cost of any improvement in the manner herein specified.