43-1914. RESOLUTION PRIOR TO CONSTRUCTION — ELECTION. Before any district shall construct or acquire any works under this act, the directors of the district shall enact a resolution or resolutions which shall: (a) set forth a brief and general description of the works, and if the same are to be constructed, a reference to the preliminary report or plans and specifications which shall theretofore have been prepared and filed by an engineer chosen for that purpose; (b) set forth the cost thereof estimated by the engineer chosen as aforesaid; (c) order the construction or acquisition of the works; (d) direct that revenue bonds of the district shall be issued pursuant to this act in an amount as may be necessary to pay the cost of the works; and (e) contain other provisions as may be necessary in the proposal.
The resolution shall be passed and approved as provided by law for the enactment of general resolutions, but the district shall not, without the assent of a majority of the qualified electors voting at an election to be held for that purpose, issue revenue bonds for the purpose of providing funds to own, purchase, construct, extend or equip, within and without the corporate limits of the district, any works, the principal and interest of which to be paid solely from the revenue derived from rates and charges for the use of, and the service rendered by the works.
The resolution shall provide for the holding of an election and the giving of notice thereof by publication in the official newspaper of the district, the publication to be once a week for two (2) successive weeks prior to the election. The notice of election shall set forth the purpose of the resolution, the amount of bonds authorized by it, the maturity dates of the bonds, the maximum rate of interest they shall draw, the voting places, the hours between which the polls will be open and the qualifications of voters who may vote thereat. The election shall be conducted as are other district elections, provided, that any qualified elector shall be entitled to vote in the election, the provisions of section 43-111, Idaho Code, notwithstanding. The voting at the election must be by ballot, and the ballots used shall be worded substantially as follows:
In favor of issuing revenue bonds for the purposes provided by Resolution No……..
Against the issuance of revenue bonds for the purposes provided by Resolution No……..
If, at the election, a majority of the qualified electors, voting at the election, vote in favor of issuing the revenue bonds, then the district may issue the bonds and create indebtedness or liability in the manner and for the purpose specified in the resolution.
History:
[43-1914, added 1988, ch. 299, sec. 9, p. 948.]
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