No bonds shall be issued unless approved by three-fifths (3/5ths) of the electors voting thereon at any general or special election; provided, that the foregoing shall not apply to bonds issued in anticipation of the collection of taxes actually levied and uncollected or for which an appropriation has been made; or special assessment bonds, whether solely an obligation of the special assessment district or both an obligation of the special assessment district and a general obligation of the Village; or bonds for the Village's portion of local improvements; or refunding bonds or emergency bonds, and any other bonds which by law are not required to be approved by the electors.
(Char. eff. June 7, 1954; amend. eff. Aug. 14, 1956)