§ 62-827. Voter approval of bond authorization – Determination of sufficient financial resources.

If the voters of one or more of the municipalities or counties listed in the Final Project Plan approve the authorization of bonds issued pursuant to this act, the Governor shall determine, with the assistance of the Department, whether the bonds authorized by such entity or entities will provide sufficient financial resources to allow for the project to be undertaken.  If the Governor determines that sufficient financial resources are available and that the project is feasible, then the Governor shall, by executive order, establish a Regional District comprised of those municipalities and counties whose voters approved the issuance of bonds pursuant to this act.  No municipality or county whose voters failed to authorize the issuance of bonds shall be a part of the Regional District established by the Governor.

Added by Laws 2001, c. 318, § 7, eff. Nov. 8, 2002.