Eliminates five percent down payment requirement for bond ordinances approved by counties and municipalities.

This bill removes a requirement that counties and municipalities set aside at least 5% of bond funds as a down payment before adopting bond ordinances for capital projects. It directly affects local governments seeking to issue bonds for infrastructure, parks, or other capital improvements. The key change eliminates the need for local units to appropriate or secure this down payment from existing budgets, emergency funds, or prior contributions. This frees up immediate funding flexibility for local governments, allowing them to redirect resources toward other priorities without the 5% down payment hurdle.