12-17,155. Same; issuance and sale of general obligation bonds; election.
12-17,155
12-17,155. Same; issuance and sale of general
obligation bonds; election.
The governing body of any public improvement district created
pursuant to this act may purchase or otherwise acquire land
or land and improvements and
may acquire, construct, reconstruct, repair or remodel improvements thereon or
additions thereto, including
furnishings, equipment, and architectural and incidental expense related
thereto, and for such purposes such
public improvement district is authorized to issue and sell general
obligation bonds. No such bonds
shall be issued until the
question of their issuance shall have been submitted to a vote of the electors
of such public improvement district at a regular
election or at a special election called for that purpose and the majority of
the electors voting on the
proposition in such district shall have voted in favor of the issuance of the
bonds. Such election shall be
called, noticed and held and the bonds issued, sold, delivered and retired in
accordance with the provisions
of the general bond law.
History: L. 2005, ch. 151, § 4; July 1.