Sewer districts and water districts may issue joint revenue bonds.

204.375. Sewer districts and water districts may issue joint revenue bonds. — Any sewer district organized hereunder and any public water district organized under chapter 247 , although constituted separately, may issue joint revenue bonds, the proceeds, obligation and repayment of which shall be apportioned between the districts by contract, the basic terms of which shall be a part of the notice of elections; provided, however, each water and sewer district combining jointly to issue such bonds shall comply generally with the requirements for the issuance of bonds under their respective statutes. (L. 1972 H.B. 1239 & 1300)