Bond resolution and capital note resolution; procedure for enactment thereof

§ 33.00 Bond resolution and capital note resolution; procedure for enactment thereof. a. Every bond resolution and capital note resolution shall be adopted by at least a two-thirds vote of the voting strength of the finance board, except that (1) where a bond resolution or a capital note resolution is subject to mandatory referendum before it shall become effective or (2) where a bond resolution provides that it shall be submitted to a referendum in the manner authorized by or pursuant to this chapter, a three-fifths vote shall be sufficient. A majority vote shall be sufficient for the adoption of a resolution authorizing the renewal of a capital note.

b. Any village having a population of five thousand or more, as determined pursuant to the last available federal census, and any city may hereafter adopt, in the manner provided by law, a local law requiring public hearings on all bond resolutions and capital note resolutions or on bond resolutions and capital note resolutions authorizing the issuance of obligations for such purposes or amounts as may be specified in such local law. Such a local law shall prescribe the procedure for such public hearings.