48-632. Procedure for investment bond election
A. When the governing body of a municipality at a meeting has determined that the public interest or necessity demands the acquisition, construction or completion of an improvement authorized by articles 1 and 2 of this chapter, it may at that or a subsequent meeting, by a vote of a majority of all its members, order a special election and submit to the qualified electors of the municipality the proposition of issuing the investment bonds.
B. The resolution calling the election shall recite the objects and purposes for which it is proposed to use the proceeds of the bonds, the amount of the principal thereof, the rate of interest to be paid thereon, and shall fix the date on which the special election will be held, the manner of holding the election and manner of voting for or against issuing such bonds.
C. The election, except as otherwise provided in this article, shall be held, and the return thereof made and canvassed and the elector shall possess the qualifications as provided by law for holding bond elections in the municipality.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.