After the Council has held the hearing described in Subsection D of Section 6.755, if it deems it necessary to incur the Debt, it shall by resolution state all of the following:
A. That it deems it necessary to incur the Debt;
B. The purpose for which the Debt will be incurred;
C. Either of the following in accordance with its previous determination;
1. That the whole of the District will pay for the Debt;
2. That a portion of the District will pay for the Debt, which portion shall be described in the resolution of the Council made pursuant to Section 6.759;
D. The principal amount of Debt to be incurred;
E. The maximum term of the Debt to be issued, which term shall not exceed fifty years;
F. The maximum annual rate of interest to be paid, payable annually or semiannually, or in part annually and in part semiannually, or in any other manner as shall be provided by the Council;
G. That the proposition will be submitted to the voters;
H. The date of the special election (which may be consolidated with a general or special district election, including an election to levy a special tax) at which time the proposition shall be submitted to the voters;
I. If the election is not conducted by mail or hand-delivered ballot, the hours between which the polls shall be open;
J. If the election is conducted by mail or hand-delivered ballot, the hour when the ballots are required to be received in the office of the City Clerk conducting the election, and that if all qualified electors have voted, the election shall be closed.
SECTION HISTORY
Added by Ord. No. 177,051, Eff. 11-20-05.