The Council, pursuant to ordinance and thirty (30) days' public notice may borrow money, issue bonds or otherwise extend its credit for purchasing, equipping and constructing a public utility or income-producing project, provided that the bonds or other obligations shall be made payable from the net revenues derived from the operation of such project, or from the proceeds of any revenue tax other than general ad valorem tax, levied in accordance with this Charter, so long as the full faith and credit of the Town are not pledged for the payment of such securities. Such securities shall not be deemed to be subject to any debt limitation nor to affect the Town's debt-incurring power. No Town Revenue Bonds shall be issued until the question of their issuance shall be submitted to a vote of the electors of the Town of Telluride and approved by a majority of those voting on the question in an election that is compliant with the requirements and limitations under the Colorado Constitution. (Amended 11/4/08)