3-152a.   Bonds for improvements to airports in certain cities; petitionand election, when.The governing body of any city which is located in a county having a populationof more than seven thousand three hundred (7,300) and less than seven thousandeight hundred (7,800) and which operates an airport may issue general obligationbonds of the city in an amount not to exceed fifty thousand dollars ($50,000)annually for each of three (3) years without an election for the purposeof making improvements to such airport or to its related facilities. Anygoverning body proposing to issue such bonds shall publish a resolutionto that effect in a newspaper of general circulation within the city. Suchresolution shall be published once each week for three (3) consecutive weeks. If, within sixty (60) days following the final publication of such resolution,a petition protesting such bond issue signed by not less than five percent(5%) of the qualified electors of such city is presented to the city clerk,no such bonds shall be issued until the question of the issuance of suchbonds is placed on the ballot at a primary, general or special electionand approved by a majority of the qualified electors of the city votingthereon. Such bonds shall be issued, registered, sold, delivered and retiredin accordance with the provisions of the general bond law.

      History:   L. 1979, ch. 12, § 1; April 19.