(1) At least 75 days before the election, the governing body shall prepare and submit to the election officer: (a) a ballot title for the bond proposition that includes the name of the local political subdivision issuing the bonds and the word "bond"; and (b) a ballot proposition that meets the requirements of Subsection (2). (2) (a) The governing body shall ensure that the ballot proposition includes: (i) the maximum principal amount of the bonds; (ii) the maximum number of years from the issuance of the bonds to final maturity; (iii) the general purpose for which the bonds are to be issued; and (iv) if issuance of the bonds will require the increase of the property tax imposed upon the average value of a residence by an amount that is greater than or equal to $15 per year, the following information in substantially the following form and in the following order: "PROPERTY TAX COST OF BONDS: If the bonds are issued as planned, [if applicable: without regard to the taxes currently levied for outstanding bonds that will reduce over time,] an annual property tax to pay debt service on the bonds will be required over a period of ____ years in the estimated amount of $____ (insert the average value of a residence in the taxing entity rounded to the nearest thousand dollars) on a residence and in the estimated amount of $____ on a business property having the same value. [If applicable] If there are other outstanding bonds, an otherwise scheduled tax decrease may not occur if these bonds are issued. The foregoing information is only an estimate and is not a limit on the amount of taxes that the governing body may be required to levy in order to pay debt service on the bonds. The governing body is obligated to levy taxes to the extent provided by law in order to pay the bonds." (b) The governing body may state the purpose of the bonds in general terms and need not specify the particular projects for which the governing body intends to issue the bonds or the specific amount of bond proceeds that the governing body intends to expend for each project. (c) If the governing body intends that the bonds be payable in part from tax proceeds and in part from the operating revenues of the local political subdivision, or from any combination of tax proceeds and operating revenues, the governing body may indicate those payment sources on the bond proposition, but need not specify how the governing body intends to divide the bonds between those sources of payment. (d) (i) The governing body shall ensure that the bond proposition is followed by the words, "For the issuance of bonds" and "Against the issuance of bonds," with appropriate boxes in which the voter may indicate the voter's choice. (ii) Nothing in Subsection (2)(d)(i) prohibits the addition of descriptive information about the bonds. (3) If a bond proposition is submitted to a vote on the same day as any other election held in the local political subdivision calling the bond election, the governing body or an election officer may combine the bond proposition with the candidate ballot in a manner consistent with Section 20A-6-301 or 20A-6-402. (4) The governing body shall ensure that the ballot form complies with the requirements of Title 20A, Chapter 6, Ballot Form.
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