85-9-624. Issuance of bonds -- approval and assessments.
85-9-624. Issuance of bonds -- approval and assessments. (1) For a bond issue to be approved, 40% of the qualified electors must vote thereon and 60% of those voting must approve the issue.
(2) Approval of the bond issue shall authorize the directors to make assessments necessary to pay the principal and interest on bonds issued, as provided in 85-9-601.
(3) The directors shall enter the results of the election in their records.
(4) If otherwise fairly conducted, no irregularities or informalities shall invalidate the election.
(5) Bonds for more than one purpose may be submitted to the electors as a single proposition.
History: En. Sec. 29, Ch. 100, L. 1969; R.C.M. 1947, 89-3429.