Section 80.
The town of Falls City is hereby authorized and empowered to construct, operate, and maintain water works within and without the limits of said Town, for the purpose of supplying the Town and its inhabitants with water, and to charge tolls therefor. For the purposes in this section stated said Town may purchase all real property, whether located within or without the limits of said Town necessary for reservoirs, pumping stations, other buildings and pipe lines, and may purchase all waters of lakes and streams and riparian rights necessary or convenient therefor. If the said Town shall be unable to agree with the owner of such property for the purchase thereof, the said Town may appropriate and condemn to its own use for the purposes aforesaid and all real property, waters, streams, and riparian rights, whether located within or without the limits of said Town. The proceeding in such action to condemn shall be the same as those provided by the laws of Oregon for the condemnation of lands for railway purposes. For the purposes aforesaid said Town is hereby authorized to issue interest-bearing negotiable coupon bonds of the Town, to run not more than twenty years from the date of their issue, to the amount of $30,000.00, which bonds shall draw interest not to exceed the rate of seven per centum per annum, payable annually or semi-annually at such place as the council by Ordinance shall designate.
Section 81.
The money arising from the sale of said bonds shall be expended in the construction or purchase of a system of water works, for the purpose of supplying the inhabitants of said town with good and wholesome water for domestic purposes, for fire and power purposes, for the construction or purchase of gas or electric plant for the lighting of said town and heating and power purposes, for the construction of a sewerage system in said town, for the improvement of streets and highways in said town, for the erection of public municipal building in said town, or on land owned by said town, or for either or all of said purposes; provided, that the operating plant or pipe lines of such gas, electric, or water works may be located outside of said town limits of said town or held by said town under perpetual lease or right of way.