A. Upon adoption of a resolution by a majority of the members of each board of county commissioners of an enterprise district or of the governing bodies of each member city or town of an enterprise district, and pursuant to the recommendation of the Authority, said boards or governing bodies shall by resolution call for an election for the purpose of issuing general obligation bonds to finance low interest loans as provided by Section 690.16 of this title.
B. Each board or governing body shall give notice of said election by publication once a week for two (2) consecutive weeks in a daily or weekly newspaper of general circulation published in its respective county. If there is no daily or weekly newspaper published in the county, then notice shall be given in a newspaper of general circulation in such county.
C. The resolution calling for the election and the notice shall contain:
1. The amount of bonds to be issued;
2. The time of holding said election, which shall not be less than thirty (30) days from the first publication of any notice;
3. The names of all counties or cities and towns in the enterprise district; and
4. The purpose for which the bonds are to be used.
D. Printed ballots stating "For District Bonds" and "Against District Bonds" shall be cast at the election.
Added by Laws 1983, c. 168, § 10, emerg. eff. June 6, 1983. Amended by Laws 1985, c. 174, § 8, emerg. eff. June 18, 1985.
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