1.4.4.2 Proposition 46 General Obligation Bonds

1.4.4.2 Proposition 46 General Obligation Bonds

Local governments may issue general obligation bonds with two-thirds voter approval. 

ELIGIBLE ISSUERS – Any local governmental entity with statutory authority and the power to tax real property

ELIGIBLE PURPOSES – Acquisition or improvement of real property

GOVERNING BOARD APPROVAL REQUIREMENT – Varies: two-thirds vote for cities, and majority vote for counties and school districts

VOTER-APPROVAL REQUIREMENT – Two-thirds