§ 34:1960 — Bond issues; voted bonds

The commission is further authorized to incur debt and issue negotiable bonds, payable from taxes to be levied on all taxable property in the district without limitation as to rate or amount, to acquire lands for the uses of the district and to provide funds for the making, construction, repair and maintenance of the public works and improvements outlined in this chapter, when authorized so to do by a majority of the qualified electors of the district voting in an election held for that purpose in accordance with law.
The commission may, upon its own initiative, call a special election and submit to the qualified taxpaying voters of the district the question of incurring such debt and issuing negotiable bonds.
All such elections and all proceedings for the issuance and sale of bonds shall be called, held, and conducted in accordance with the laws authorizing and governing elections and authorizing the issuance of bonds for such purposes by other political subdivisions which are authorized to incur debt and issue bonds of like character. The provisions of such laws shall govern and control all elections held hereunder insofar as the same may be applicable thereto.

Legislative History

Added by Acts 1968, No. 4, §5. Amended by Acts 1970, No. 228, §1, emerg. eff. July 2, 1970, at 1:05 P.M.