35-452. Election to authorize indebtedness; costs
A. The governing body or board of a political subdivision enumerated in section 35-451 may, and upon petition signed by fifteen per cent of the qualified electors shall, order an election by such electors to determine whether such indebtedness shall be authorized. The election shall be held on the first Tuesday following the first Monday in November as prescribed by section 16-204, subsection B, paragraph 1, subdivision (d).
B. If a majority of the qualified electors voting at the election votes in favor of creating an indebtedness such political subdivision may become so indebted.
C. Bond counsel fees, financial advisory fees, printing costs and paying agent and registrar fees shall be paid from either the amount authorized by the qualified electors of the political subdivision or current operating funds.
D. Bond election expenses shall be paid from current operating funds only.
Section: Previous 35-427 35-428 35-429 35-430 35-431 35-451 35-451.01 35-452 35-453 35-454 35-455 35-456 35-456.01 35-457 35-458 NextLast modified: October 13, 2016