In determining the cost of an undertaking, the governing body may include all cost and estimated cost of the issuance of the revenue bonds, all engineering, inspection, fiscal, and legal expenses, any bond reserves, and the interest which it is estimated will accrue during the construction period and for six months thereafter on money borrowed or which it is estimated will be borrowed pursuant to this chapter.
40-35-06. Issuance of bonds for electric light and power plant - When approval of electors required. No bonds shall be issued by any municipality for the purpose of financing the construction of a new electric light and power plant or distribution system, for the purchase or acquisition of an existing electric light and power plant or distribution system, or for the construction of extensions to any electric light and power plant or distribution system in excess of twenty percent of the book value thereof as shown by its books, unless the question of issuing such
bonds has been submitted to a vote of the qualified electors of the municipality as provided in section 40-35-07 and has been approved by a majority of such electors voting on such question.