(1) In addition to any other borrowing powers provided for by law, a qualified public agency may issue its negotiable bonds subject to the terms and conditions set forth in the Public Facilities Construction and Finance Act to any joint entity as defined in section 13-803 or to any joint public agency as defined in section 13-2503 in connection with any joint project which is to be owned, operated, or financed by the joint entity or joint public agency for the benefit of the qualified public agency. The bonds may be issued only if the second-largest participant in the joint project has a financial contribution in the joint project of at least twenty-five percent of the debt service. No bonds shall be issued on or after April 18, 2018, until the question has been submitted to the qualified electors of each participating qualified public agency at an election called for that purpose as provided in this section and, within each participating qualified public agency, a majority of the qualified electors voting on the question within the participating qualified public agency voted in favor of issuing the same.

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(2) Each participating qualified public agency 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.

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