Election On Question Of Incurring Bonded Indebtedness

(1) The board of directors shall fix a date on which an election is held in accordance with 13-1-504 for the purpose of authorizing the bonded indebtedness to be incurred. (2) The board may order as many as two elections each year if: (a) there are no bids within the amount of approved bonds; (b) there is an emergency; (c) a directive for a project is received from a government agency; or (d) it is necessary to take advantage of the construction season.