§ 7.06. Referendum election after petition of protest.

If the filing of a petition protesting the issuance of any tax bonds with the metropolitan clerk shall result in the necessity of any election on the proposition to issue such tax bonds, the council upon the filing of such petition shall adopt a resolution, herein called the election resolution, which shall direct the holding of an election for the purpose of voting for or against the tax bonds proposed to be issued, said election to be conducted by the Davidson County Election Commissioners as hereinafter provided. Such election resolution shall state the purpose or purposes for which each bond issue is authorized, the amount or maximum amount of the bonds, the maximum number of years for which the bonds are to run, and the maximum rate of interest such bonds are to bear. More than one proposition may be submitted at the same election. Said election resolution shall request the Davidson County Election Commissioners to arrange for the holding of the election on the date specified in the resolution. The election shall thereupon be held, notice thereof given and the results thereof canvassed in the manner provided by the general laws for the holding of elections under the supervision of the election commissioners. After the council has received the official report of the outcome of the election from the election commissioners, the council shall adopt a resolution in which there shall be contained a formal finding of the outcome of the election, which finding shall be conclusive.

No approval of the qualified electors residing in either the general services district or the urban services district at any election shall be required for the issuance of any bonds unless ad valorem taxes shall be pledged for the payment of all or part of the debt service on such bonds, and the above provisions for a permissive referendum on petition shall not apply to other bonds.