12-1270. Same; issuance of bonds; purpose; election; tax levy.
12-1270
12-1270. Same; issuance of bonds; purpose; election; tax levy.
The board may issue general obligation bonds of the library district for the
purpose of constructing, reconstructing, repairing, remodeling, furnishing and
equipping any buildings or additions thereto, together with sites therefor, for
library purposes. No bonds shall be issued until the question of their
issuance and the amount of such issuance has been submitted to a vote of the
qualified electors of the library district at any
special, general or primary election, and a majority of the qualified
electors voting thereon votes in favor thereof. The election shall be called
and held and the bonds shall be issued, sold, delivered, registered and
retired in the manner provided by the general bond law. Bonds issued
pursuant to this section shall not be subject to or within any bonded debt
limit of the city or county. The board
shall have the power to levy a tax against all taxable tangible
property in the library district for the purpose of paying the principal of,
redemption premium, if any, and interest on any bonds issued pursuant to this
section.
History: L. 1992, ch. 133, § 11; July 1.