Voter approval required for some city refinancing

Lawmakers passed a bill Feb. 29 that changes voter approval requirements for a first-class city to borrow funds for parks and recreation public improvements.

LB378, sponsored by North Platte Sen. Mike Groene, requires that the specific type of security pledged to secure financing be noted on the initial ballot. In addition, any refinance proposal to change the type of security from revenue bonds to general obligation bonds must be subject to a vote of the people.

Senators voted 47-0 to pass the bill.

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