§ 39:561 — Issuing bonds; resolution

If a majority in number and amount of the qualified property taxpayers voting at an election held under the provisions of this Chapter vote in favor of the proposition to incur debt and issue negotiable bonds, the governing authorities after promulgation of the result of the election, may by resolution authorize the issuance of the bonds, in an amount not exceeding the amount stated in the proposition, which bonds shall not be issued for any other purpose than that stated in the proposition.