Section 33.00. Bond resolution and capital note resolution; procedure for enactment thereof

a. Every bond resolution and capital note resolution  shall be adopted by at least a two-thirds vote of the voting strength of
  the finance board, except that (1) where a bond resolution or a  capital
  note  resolution  is  subject  to  mandatory  referendum before it shall
  become effective or (2) where a bond resolution provides that  it  shall
  be  submitted to a referendum in the manner authorized by or pursuant to
  this chapter, a three-fifths vote shall be sufficient. A  majority  vote
  shall  be  sufficient  for  the adoption of a resolution authorizing the
  renewal of a capital note.
    b. Any village having a  population  of  five  thousand  or  more,  as
  determined  pursuant  to the last available federal census, and any city
  may hereafter adopt,  in  the  manner  provided  by  law,  a  local  law
  requiring  public  hearings  on  all  bond  resolutions and capital note
  resolutions  or  on  bond  resolutions  and  capital  note   resolutions
  authorizing  the issuance of obligations for such purposes or amounts as
  may be specified in such local law. Such a local law shall prescribe the
  procedure for such public hearings.