Except as provided in Section 10-2, Section 10-4, Section 10-5, and Article XI, no bonds or other evidence of indebtedness payable in whole or in
part from the proceeds of general property taxes or to which the full faith and credit
of the Town are pledged, shall be issued until the question of their issuance has
been submitted to a vote of the registered electors at a regular or special election
and approved by a majority of those voting on the question. However, such securities
issued for acquiring water and rights thereto, or acquiring, improving or extending
a municipal water system, or otherwise supplying water services, may be issued without
an election, subject to a timely referendum, if one is filed in accordance with the
procedures and requirements set forth in this Charter, notwithstanding any emergency
declaration in this ordinance.
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