§ 86b. Further provisions as to bond issues.

Any ordinance authorizing the issuance of bonds adopted pursuant to section 86 may specify one or more single specific objects or purposes as the purposes for which the bonds are to be issued and the maximum principal amount of bonds to be issued for each such specific object or purpose or may specify one or more classes of objects or purposes, each to be described in brief and general terms sufficient for reasonable identification, and the maximum principal amount of bonds to be issued for each such class of objects or purposes. Bonds authorized for a single specific object or purpose shall not be issued until an ordinance authorizing the carrying out of such object or purpose has been adopted and taken effect. Bonds authorized for a class of objects or purposes may be issued either before or after ordinances authorizing the carrying out of such objects or purposes have been adopted and taken effect, but none of the moneys raised by the issuance of the bonds issued for such class of objects or purposes shall be applied to the financing of an object or purpose included in such class of objects or purposes until an ordinance authorizing the carrying out of such object or purpose has been adopted and taken effect, and the aggregate amount of the moneys so applied shall not exceed the amount appropriated to said object or purpose and directed to be expended from the moneys raised by the issuance of the bonds authorized for such class of objects or purposes, either by said ordinance or by a resolution adopted by the council. (Acts 1956, Ch. 124)