§ 2-65 — Bonds other than revenue bonds

No bonds, other than revenue bonds issued pursuant to Section 2-50, shall be issued by the Authority until the proposition to issue the bonds has been submitted to and approved by a majority of the voters of the metropolitan area voting upon the proposition at a general election in accordance with the general election law. The Authority may by resolution order the proposition submitted at a regular election in accordance with the general election law, whereupon the recording officer shall certify the resolution and the proposition to the proper election officials for submission. Any proposition to issue bonds under this Section shall be in substantially the following form: Shall bonds of the (name of Authority) to the amount of $(amount) be issued for the purpose of (state purpose)? The votes shall be recorded as "Yes" or "No".

Legislative History

(Source: P.A. 90-328, eff. 1-1-98.)