A city of the metropolitan class shall not issue bonds in excess of two hundred and fifty thousand dollars in any one year, except for renewal or refunding to fund floating indebtedness or district improvement bonds, to finance grading, to finance public improvements, sewers, and intersections, to erect police stations, to acquire existing utility property, to construct, remodel, or complete a municipal auditorium, to pay for property purchased or acquired in condemnation proceedings, for a public library, subways and conduits, and useful and needed public buildings, to pay for the construction and maintenance of gas works, waterworks, electric light plants, power plants, or any other public utility authorized by sections 14-101 to 14-2004 or for land to be used for any such purpose.
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