§ 63-1-719. Bonds of counties, cities and towns.

Any county, city, or town is hereby authorized to issue bonds for constructing and equipping a hospital, community mental health facility, public health center, or related health facility, to be owned and operated by such county, city, or town in accordance with standards approved by the State Commissioner of Health; provided, that such bonds may be issued to construct a jointly owned and operated hospital, community mental health facility, public health center, or related health facility, by two or more counties, or by one or more counties and a city or cities, or by two or more cities. Such bonds shall be issued upon the assent thereto of three-fifths (3/5) of the voters of the subdivision issuing the bonds, voting at an election held for that purpose.  The proposition voted on shall state specifically the type of hospital facility to be constructed. Such election shall be called by the governing board or managing body of such subdivision.  Notice of the election shall be published for two (2) successive weeks in a weekly or daily newspaper, having a general circulation in the subdivision.  The bonds shall be made to mature serially as now provided by law, and shall be sold at an advertised sale under existing laws.  The rate of interest shall not exceed eight percent (8%) per annum.  The bonds shall be submitted to the Attorney General for his approval as ex officio Bond Commissioner of the state.

Laws 1963, c. 325, art. 7, § 719; Laws 1965, c. 36, § 9; Laws 1970, c. 286, § 10, emerg. eff. April 27, 1970.