§ 4-7-72. Bonds.

Whenever the governing body shall deem it expedient or to the best interest of the district to issue the bonds of the district for any of the purposes of the district, it shall determine by resolution to be entered in its records what amount of bonds is required for such purpose, the rate of interest to be paid thereon and the time when the principal and interest of such bonds shall be due and when payable. Bonds shall be issued only after the same have been approved by the majority of the votes cast in an election in which a majority of the electors residing in the district shall participate, which election shall be called and held and the results thereof declared and recorded in the manner prescribed by law for the holding of bond elections. Said bonds shall be authorized, issued and sold in the manner prescribed for the authorization, issuance and sale of county bonds.

(Ord. No. 78-28, § 7, 8-15-78)

State law reference

Bond elections, F.S. § 100.201 et seq.; county bonds, F.S. Ch. 130.