§ 3310 — Limitations

Bonds issued under the authority of this chapter shall be authorized and issued in accordance with and subject to the limitations and provisions of chapter 53, subchapter 1 of this title. They shall not be considered as indebtedness of the municipal corporation limited by section 1762 of this title, may be paid in not more than 40 years from the date of issue notwithstanding the limitation of section 1759 of this title, may be authorized by a majority of those voting by ballot on the question at a meeting of the municipal corporation held for the purpose under chapter 53, subchapter 1 of this title notwithstanding any provisions of general or special law that may require a greater vote, and may be so arranged that beginning with the first year in which principal is payable, the amount of principal and interest in any year shall be as nearly equal as is practicable according to the denomination in which such bonds or other evidences of indebtedness are issued notwithstanding other permissible payment schedules authorized by section 1759 of this title. (Amended 1965, No. 63, eff. May 19, 1965; 1971, No. 166 (Adj. Sess.), § 1, eff. March 22, 1972.)