§ 27454 Bond Issuance Voter Approval

• •Most people in the area must vote 'yes' to allow the government to borrow money for special transit projects.
• •The vote must happen in a special election just for this issue.
• •If more than half of the voters say 'yes,' the government can issue bonds (borrow money).
• •This rule is for special transit service areas only.

Your town wants to build a new bus system, but it needs $10 million to do it.

The town holds a vote, and if more than half of the people who vote say 'yes,' the town can borrow the money by selling bonds. If not enough people vote 'yes,' the town can’t borrow the money.