The council or other governing body of any city desiring to construct and maintain a community house under ORS § 276.732 may submit the issues to the electors of the city at any regular or special election held within such city. At the election the electors of the city shall designate the maximum amount of money to be expended for the community house and shall specify the manner by which funds shall be secured for that purpose, whether by taxation or the sale of the bonds of the municipality.

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