I. Consistent with the provisions of this chapter, any town or city may establish special assessment districts for a part of the area of the town or city, within which may be provided public facilities and services from funds derived from service charges, special assessments, or other charges within the special assessment district.
II. For the purpose of providing public facilities and services within any special assessment district, the town or city may levy and collect service charges, special assessments, or other charges within the district, and borrow and expend money, and issue bonds, notes, and other obligations of indebtedness, which powers shall be exercised in the manner and subject to the limitations provided by this chapter and by the general laws of the state.