§ 7.06. Referendum election after petition of protest.
Latest version.
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.
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