Issuing Bonds

If a school district needs to go to a vote of the people to issue bonds, a few statues they need to be aware of include:

11-14-201. Election on bond issues -- Qualified electors -- Resolution and notice.

(1) The legislative body of any local political subdivision that wishes to issue bonds under the authority granted in Section 11-14-103 shall, at least 75 days before the date of election:

(a) approve a resolution submitting the question of the issuance of the bonds to the voters of the local political subdivision; and

(b) provide a copy of the resolution to:

(i) the lieutenant governor; and
(ii) the election officer, as defined in Section 20A-1-102, charged with conducting the election.

(2) The local political subdivision may not issue the bonds unless the majority of the qualified voters of the local political subdivision who vote on the bond proposition approve the issuance of the bonds.

(3) Nothing in this section requires an election for the issuance of:

(a) refunding bonds; or

(b) other bonds not required by law to be voted on at an election.

(4) The resolution calling the election shall include a ballot proposition, in substantially final form, that complies with the requirements of Subsection 11-14-206(2).

Renumbered and Amended by Chapter 105, 2005 General Session

11-14-206. Ballots -- Submission of ballot language -- Form and contents.

(1) At least 75 days before the election, the legislative body shall prepare and submit to the election officer:

(a) a ballot title for the bond proposition that includes the name of the local political subdivision issuing the bonds and the word "bond" or an identification of the type of bonds; and

(b) a ballot proposition that meets the requirements of Subsection (2).

(2)

(a) The ballot proposition shall include:

(i) the maximum principal amount of the bonds;
(ii) the maximum number of years from the issuance of the bonds to final maturity; and
(iii) the general purpose for which the bonds are to be issued.

(b) The purpose of the bonds may be stated in general terms and need not specify the particular projects for which the bonds are to be issued or the specific amount of bond proceeds to be expended for each project.

(c) If the bonds are to be payable in part from tax proceeds and in part from the operating revenues of the local political subdivision, or from any combination of tax proceeds and operating revenues, the bond proposition shall indicate those payment sources, but need not specify how the bonds are to be divided between those sources of payment.

(d)

(i) The bond proposition shall be followed by the words, "For the issuance of bonds" and "Against the issuance of bonds," with appropriate boxes in which the voter may indicate his choice.
(ii) Nothing in Subsection (2)(d)(i) prohibits the addition of descriptive information about the bonds.

(3) If a bond proposition is submitted to a vote on the same day as any other election held in the local political subdivision calling the bond election, the bond proposition may be combined with the candidate ballot in a manner consistent with Section 20A-6-301, 20A-6-303, or 20A-6-402.

(4) The ballot form shall comply with the requirements of Title 20A, Chapter 6, Ballot Form.

Renumbered and Amended by Chapter 105, 2005 General Session