§ 159‑50. Notice of intent to make applicationfor issuance of voted bonds; objection by citizens and taxpayers.
When a unit of local government proposes to issue bonds that must beapproved by a vote of the people, it shall first publish a notice of its intentto make application to the Commission for approval of the issue. The noticeshall be published once not less than 10 days before the application is filed.The notice shall state (i) that the board intends to file an application withthe Commission for approval of a bond issue, (ii) in brief and general termsthe purpose of the proposed issue, (iii) the maximum amount of bonds to beissued, and (iv) that any citizen or taxpayer of the issuing unit may, withinseven days after the date of the publication, file with the governing board andthe Commission a statement of any objections he may have to the issue. TheCommission may prescribe the form of the notice.
Any citizen or taxpayer of the issuing unit who objects to the proposedbond issue in whole or in part may, within seven days from the date ofpublication of the notice, file a written statement of his objections with theboard and the Commission. The statement shall set forth each objection to theproposed bond issue and shall contain the name and address of the person filingit. The Commission shall consider the statement of objections along with theapplication and shall notify the objector and the board of its disposition ofeach objection.
Failure to comply with this section shall not affect the validity ofany bonds otherwise issued in accordance with the law. This section shall notapply to bonds that need not be submitted to a vote of the people. (1953, c. 1121; 1971, c. 780, s. 1.)
§ 159‑50. Notice of intent to make applicationfor issuance of voted bonds; objection by citizens and taxpayers.
When a unit of local government proposes to issue bonds that must beapproved by a vote of the people, it shall first publish a notice of its intentto make application to the Commission for approval of the issue. The noticeshall be published once not less than 10 days before the application is filed.The notice shall state (i) that the board intends to file an application withthe Commission for approval of a bond issue, (ii) in brief and general termsthe purpose of the proposed issue, (iii) the maximum amount of bonds to beissued, and (iv) that any citizen or taxpayer of the issuing unit may, withinseven days after the date of the publication, file with the governing board andthe Commission a statement of any objections he may have to the issue. TheCommission may prescribe the form of the notice.
Any citizen or taxpayer of the issuing unit who objects to the proposedbond issue in whole or in part may, within seven days from the date ofpublication of the notice, file a written statement of his objections with theboard and the Commission. The statement shall set forth each objection to theproposed bond issue and shall contain the name and address of the person filingit. The Commission shall consider the statement of objections along with theapplication and shall notify the objector and the board of its disposition ofeach objection.
Failure to comply with this section shall not affect the validity ofany bonds otherwise issued in accordance with the law. This section shall notapply to bonds that need not be submitted to a vote of the people. (1953, c. 1121; 1971, c. 780, s. 1.)
§ 159‑50. Notice of intent to make applicationfor issuance of voted bonds; objection by citizens and taxpayers.
When a unit of local government proposes to issue bonds that must beapproved by a vote of the people, it shall first publish a notice of its intentto make application to the Commission for approval of the issue. The noticeshall be published once not less than 10 days before the application is filed.The notice shall state (i) that the board intends to file an application withthe Commission for approval of a bond issue, (ii) in brief and general termsthe purpose of the proposed issue, (iii) the maximum amount of bonds to beissued, and (iv) that any citizen or taxpayer of the issuing unit may, withinseven days after the date of the publication, file with the governing board andthe Commission a statement of any objections he may have to the issue. TheCommission may prescribe the form of the notice.
Any citizen or taxpayer of the issuing unit who objects to the proposedbond issue in whole or in part may, within seven days from the date ofpublication of the notice, file a written statement of his objections with theboard and the Commission. The statement shall set forth each objection to theproposed bond issue and shall contain the name and address of the person filingit. The Commission shall consider the statement of objections along with theapplication and shall notify the objector and the board of its disposition ofeach objection.
Failure to comply with this section shall not affect the validity ofany bonds otherwise issued in accordance with the law. This section shall notapply to bonds that need not be submitted to a vote of the people. (1953, c. 1121; 1971, c. 780, s. 1.)
