§ 50236 Bond Issuance Voter Approval

• •Most people must say 'yes' for the government to borrow money by selling bonds.
• •The 'yes' votes must be more than half of all the votes cast on the issue.
• •This rule is for when the government wants to take on debt for big projects.

A town wants to build a new school and needs to borrow $10 million to pay for it.

The town holds a vote, and only if more than half of the people who vote say 'yes' can the town borrow the money by selling bonds.