§ 19524 Bond Issuance And Taxation

• •If two-thirds of the people voting say 'yes,' the group in charge can borrow money by selling bonds.
• •The group must write down the decision and tell a bigger boss group about it.
• •The borrowed money must be paid back using money from a special fund, and taxes on property in the area will be used to fill that fund.

A small town wants to build a new school but doesn't have enough money. They ask the people who live there if they can borrow money by selling bonds.

If at least two-thirds of the people who vote say 'yes,' the town leaders can borrow the money. They have to tell the county leaders about it. The town will then use taxes from homes and businesses to pay back the money they borrowed.