§ 54387 Bond Issuance Authorization Process

• •If people vote 'yes' in an election to allow bonds, the government can sell them.
• •The government must make a formal decision (like a rule) to sell the bonds after the vote.
• •This rule was added a long time ago, in 1949.

A town votes to build a new school and pays for it by selling bonds.

If the town votes 'yes' to sell bonds for the school, the town leaders must then officially decide to sell those bonds to get the money.