(a) No bonds or other evidence of indebtedness payable in whole or in part from the proceeds of general property taxes or for which the full faith and credit of the City is pledged shall be issued until the question of the issuance of such bonds shall be submitted to a vote of the registered electors at a general or special election and approved by a majority of those voting on the question.

(b) Notwithstanding the provisions of subsection (a) above, the Council shall have the power to issue general obligation bonds for the purpose of acquiring water and water rights or a utility system to include water and water rights, or acquiring, improving, or extending a City water system, without an election upon the affirmative vote of three-fourths of the entire Council.

(c) The provisions of this section shall not apply to short term notes, revenue bonds, refunding bonds, nor special or local improvement district bonds. (Amended at election held Nov. 6, 1990)