Section 14-91-501 - Authority generally(a)(1) It is realized that waterworks and electric light plants and sewers will wear out and must be repaired and replaced, and that with the growth of our cities and towns, improvement and extensions of these plants and sewers are necessary from time to time.(2) So far as municipal improvement districts, created for the purpose of installing waterworks and electric light plants and sewers, have funds, they may make these repairs, replacements, improvements, and extensions.(b)(1) If it is necessary to borrow money for the purpose of making repairs, replacements, improvements, or extensions, the board of improvement of the district shall cause plans and estimates of cost thereof to be prepared and shall file them with the city or town clerk or recorder.(2)(A) If the improvements so to be made will benefit property beyond the limits of the district as then existing, they shall file with their report a map showing the boundaries of the original district and the territory to be annexed thereto.(B)(i) If within twelve (12) months thereafter, a petition signed by parties claiming to be two-thirds (2/3) in assessed value of the real property in the original territory and in the territory to be annexed, each taken separately, is filed with the city or town clerk or recorder, requesting that the repairs, replacements, improvements, or extensions be made, he shall give notice of a hearing upon the petition to be had at the next regular meeting of the city or town council held at least fifteen (15) days after the publication of a notice.Acts 1929, No. 64, § 14; 1935, No. 145, § 5; Pope's Dig., § 7368; A.S.A. 1947, § 20-322.