Changes to Existing Law

13-16-6.3. Any A proposed installment purchase contract, or lease-purchase, or issue of capital outlay certificates authorized pursuant to § 13-16-6 or 13-16-6.2 which will obligate the school district for future payments on the principal, the total of which will exceed one and one-half percent of the taxable valuation of taxable property within the district, district fifty thousand dollars, may not be entered into, or certificates issued, unless prior thereto the school board conducts a public hearing thereon after having given notice by publication at least twice in its official newspaper at least ten days before the hearing. Upon the hearing approval of the board during the hearing, the board may approve the action or may shall refer the matter to the voters of the district. Capital outlay certificates authorized pursuant to § 13-16-6 or 13-16-6.2 may not be issued unless prior thereto the school board conducts a public hearing after having given notice by publication at least twice in its official newspaper at least ten days before the hearing. Upon the approval of the board during the hearing, the board shall refer the matter to the voters of the district.

13-16-6.4. Approval to enter into an agreement or issue capital outlay certificates pursuant to § 13-16-6.3 is subject to a referendum if five percent of the registered voters, based upon the total number of registered voters at the last preceding general election, petition, within twenty days thereafter, to have the question of approval to enter into the agreement or issue capital outlay certificates placed upon the ballot at a. The board of a school district may issue capital outlay certificates pursuant to §§ 13-16-6.2 and 13-16-7 6.3 only if the question of issuing the capital outlay certificates is approved by the voters of the district. A special election called for that purpose and the purposes provided in this section must be held on: (1) The first Tuesday after the first Monday in March; (2) The first Tuesday after the first Monday in June; or (3) The first Tuesday after the first Monday in November. If the bond election is held on a date listed in subdivision (2) or (3) in an even-numbered even-14 numbered year, the election must be held in conjunction with the regular primary or general election, respectively. When the election is held in conjunction with the primary or general election, the expenses and governmental responsibilities of a combined election must be shared in a manner agreed upon by the board of the school district and the boards of county commissioners involved. The business manager shall give notice that the question is to be on the ballot at the regular or special election election, as provided by law for school elections elections, and prepare official ballots therefor according to the provisions of this title. Approval of the question to enter into an agreement or issue capital outlay certificates requires an affirmative vote of at least sixty percent of those voting on the question. If the question submitted to the voters at an election is not approved by the voters, the school board may, by resolution, place the question on the ballot at the next available election provided by this section. 27