§ 403. Additional powers of municipality. In addition to the powers
which it may now have, any municipality shall have power under this
article; (a) to acquire by gift, purchase, or the exercise of the right
of eminent domain, to construct, reconstruct, improve, better or extend
any undertaking, within or without the municipality, or partially within
or partially without the municipality, and to acquire by gift, purchase,
or the exercise of the right of eminent domain, lands or rights in lands
or water rights in connection therewith, (b) to operate and maintain any
undertaking within or without the territorial boundaries of the
municipality, (c) to prescribe and collect rates, fees, tolls, charges
for the services, facilities and commodities furnished by such
undertaking and (d) to pledge to the punctual payment of any bonds
issued to carry out any of the purposes of this article and interest on
such bonds an amount of revenues of such undertaking (including
improvements, betterments, or extensions thereto, thereafter constructed
or acquired) or of any part of such undertaking, sufficient to pay said
bonds and interest as the same shall become due and to create and
maintain reasonable reserves therefor. Such amount may consist of all or
any part or portion of such revenues.