§ 7.01. AUTHORITY TO ISSUE.

Latest version.

Whenever it shall be deemed advisable to issue bonds of the Town of Melbourne Beach for any lawful municipal purpose, refunding previous bonds and interest and other obligations, for raising money to be used for said lawful purpose, the Commission in their corporate capacity are hereby authorized, in compliance with the Constitution and laws of the State of Florida, to issue the bonds of said Town, under the seal of the municipality. However, any general obligation bonds pledging the full faith and credit of the Town shall not be issued unless approved by referendum by a majority vote of the qualified elector of this Town.
(Adopted by electorate 11-6-73)

                    
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