§ 718. Referendum on borrowing.

Before any bond or other evidence of indebtedness of the county shall be issued, except:

(a)

Emergency or tax anticipation notes or other evidences of indebtedness having a maturity not in excess of twelve months, and

(b)

Self-liquidating obligations including all bonds or other obligations issued under the authority of The Metropolitan District Act, as amended, the full amount of any such borrowing shall be submitted to a referendum of the registered voters of the county for their approval or rejection. The determination of questions so to be submitted for referendum shall be made in the manner provided in Section 705(a) of this Article. No bonds or other evidences of indebtedness, with the exceptions above provided, shall be issued unless a majority of the voters voting on the referendum at such election shall indicate their approval thereof.