§ 5860 District Bond Election Resolution

• •The board must first pass a resolution to call an election.
• •Qualified voters must approve the creation of the district and the borrowing of money.
• •Bonds can only be issued for the estimated cost of the project plus any extra expenses the board finds.

A town wants to build a new community center in a newly planned neighborhood.

The town board writes a resolution, calls an election, and lets the qualified voters vote on whether to form the new district and issue bonds to cover the building costs. If the voters say yes, the board can sell the bonds up to the estimated cost and use the money to build the center.