§ 120-i. Means of payment. The indebtedness created for such public
works may be paid by each contracting municipality, including a sewer
district of a town, partly by assessment on the property deemed
specially benefited by such improvement and partly by a charge on such
municipality at large. In the case of a sewer district of a town the
petition for the creation thereof or a supplemental petition may state
the means of payment as above provided and the assessment therein shall
be made in form and substance so far as applicable as provided in
section two hundred and thirty-seven of said law, except that such sewer
commissioner shall assess a part of the district's proportionate share
of the total cost of such system on the lands within such district, or
extension of an existing district in proportion, as nearly as may be, to
the benefit which each lot or parcel will derive therefrom. Such sewer
commissioners shall determine the amount to be raised by general
taxation for such expense. Nothing herein contained shall be construed
as preventing the contracting municipalities from paying such
indebtedness, in whole or in part, by the issuance of obligations
pursuant to the terms of the local finance law.