The City Council may authorize the erection of a sewage disposal plant for the treatment of sewage emptying directly into Lake Champlain, including buildings and equipment, laboratory equipment and furniture, necessary interceptor sewers, force mains, and pumping station, acquisition of land necessary therefor, and clearing of site, and may authorize the issuance by said City of its bonds to the amount of $741,000.00 bearing interest at not to exceed three percent, for the purpose of paying therefor, which bonds shall not be considered as part of the indebtedness of the City for the purposes of section 3696 of the Vermont Statutes, Revision of 1947. In connection with the erection and operation of said plant, said City Council may also exercise all the powers enumerated by Chapter 180 of the Vermont Statutes, Revision of 1947, as amended by No. 86 of the Acts of 1949, without further vote of the legal voters of said City.