(1) Subject to subsections (2) and (3) of this section, any joint entity may from time to time issue its bonds in such principal amounts as its governing body shall deem necessary to provide sufficient funds to carry out any of the joint entity's purposes and powers, including the establishment or increase of reserves, the payment of interest accrued during construction of a project and for such period thereafter as the governing body may determine, and the payment of all other costs or expenses of the joint entity incident to and necessary or convenient to carry out its purposes and powers.

(2) Bonds issued on or after April 18, 2018, for purposes of the Public Facilities Construction and Finance Act shall be subject to a vote prior to issuance as provided in such act.

(3)(a) For any joint entity created on or after February 14, 2024, that includes a Nebraska school district or an educational service unit, such joint entity shall not issue any bonds until the question of issuing such bonds has been submitted to the qualified electors of each Nebraska school district or educational service unit that is part of the joint entity at an election called for that purpose as provided in this section and, within each such school district or educational service unit, a majority of the qualified electors voting on the question voted in favor of issuing the bonds.

(b) The joint entity shall give notice of the election at least fifty days prior to the election. The question of issuing bonds may be submitted at the statewide primary or general election. The election shall be conducted in accordance with the Election Act.

(c) The question of bond issues, when defeated, shall not be resubmitted in substance for a period of at least six months after the date of such election.