Section 11.5 GENERAL OBLIGATION BONDS:
Except for obligations authorized in sections 11.2, 11.3, 11.4 and 11.10 of this charter, or as provided in this section below, no bonds or other obligations to which the full faith and credit of the town is pledged or which are payable in whole or in part from the proceeds of general property taxes shall be issued until the question os their issuance shall be submitted to a vote of the qualified electors of the town at a regular or special election and approved by a majority of those voting thereon. Such election shall be called pursuant to a resolution or ordinance, which shall include:
(1) The bond question to be submitted.
(2) The amount of the total valuation for assessment of the taxable property within the town as shown by the last assessment thereof.
(3) The amount of the town's total general obligation bonded indebtedness outstanding and unrefunded as of the date of the resolution or ordinance and the amount thereof, assuming the issuance of the proposed bonds.
General obligation bonds of the town issued for the purpose of constructing, improving or extending any municipal utility system (as defined in section 15.12(h) of this charter) or for acquiring water and the rights thereto may be issued under this section without an election.