Do Revenue Bonds Require Voter Approval

Applies to any projects that are financed owned operated or managed by the state or by a joint agency formed between the state and a federal government agency another state and or a local government.

Do revenue bonds require voter approval. As of july 1 1983 all municipal bonds must be registered. Various types of long term obligations commonly incurred by local governments such as lease revenue bonds certificates of participation pension obligation bonds and pension liabilities and other retiree benefits have not been held to be debt subject to voter approval requirements. In some states they do. Revenue bonds are repaid by a project s users.

Revenue bonds do not require voter approval unless issued for gas or electric systems. General obligation bonds require statewide voter approval before the state can issue them to pay for a project. Requires statewide voter approval before any revenue bonds can be issued or sold by the state for certain projects if the bond amount exceeds 2 billion. It s about revenue bonds.

Currently revenue bonds do not require voter approval. Revenue bonds represent no call on the full faith and credit and taxing power of the city but must be payable solely from revenues of undertakings for which bonds can be issued that are pledged for that purpose. Revenue bonds however do not require statewide voter approval under existing state law. Two other important pieces of legislation are the tax reform act of 1986 and the 39 general regulations that govern the sro self regulatory organization of the msrb.