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1 New Section; Municipal Finance; Town; District, or City Bonds; Required Procedure. Amend RSA 33 by inserting after section 8-f the following new section:
33:8-g Required Procedure for Certain Town, District, and City Bonds or Notes.
I. The issue of bonds or notes exceeding $500,000 by any municipal corporation, including a city, a town which has adopted a charter pursuant to RSA 49-B, or any other optional form of legislative body, shall upon petition of at least 50 registered voters of the town, district, or city, be authorized only by a vote by ballot of 2/3 of all the voters present and voting at an annual or special meeting of such town, district, or city called for the purpose. Only votes in the affirmative or negative shall be included in the calculation of any 2/3 majority.
II. Any conflicting procedures in RSA 33:3-g, RSA 33:8, RSA 33:8-a, RSA 33:8-c, RSA 33:8-d RSA 33:8-e and RSA 33:9 shall only apply to approval of bonds issuance for amounts under $500,000.
2 Effective Date. This act shall take effect 60 days after its passage.
Text to be added highlighted in green.
1 New Section; Municipal Finance; Town; District, or City Bonds; Required Procedure. Amend RSA 33 by inserting after section 8-f the following new section:
33:8-g Required Procedure for Certain Town, District, and City Bonds or Notes.
I. The issue of bonds or notes exceeding $500,000 by any municipal corporation, including a city, a town which has adopted a charter pursuant to RSA 49-B, or any other optional form of legislative body, shall upon petition of at least 50 registered voters of the town, district, or city, be authorized only by a vote by ballot of 2/3 of all the voters present and voting at an annual or special meeting of such town, district, or city called for the purpose. Only votes in the affirmative or negative shall be included in the calculation of any 2/3 majority.
II. Any conflicting procedures in RSA 33:3-g, RSA 33:8, RSA 33:8-a, RSA 33:8-c, RSA 33:8-d RSA 33:8-e and RSA 33:9 shall only apply to approval of bonds issuance for amounts under $500,000.
2 Effective Date. This act shall take effect 60 days after its passage.