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Part to be transferred from the Local Government Fund pursuant to | | Title 30-A, section 5681. |
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| | | 6.__Use of local option wage tax revenue.__The revenue raised | | by the adoption of a local option wage tax must be used by the | | municipality for the payment of principal and interest to holders | | of bonds issued for the construction of a major capital project | | undertaken by the municipality.__For the purposes of this | | section, "major capital project" means the construction, | | renovation or expansion of a building or facility to be used for | | public purposes or of municipal roads. |
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| | | 7.__Limitations on local option wage tax.__When the municipal | | debt service obligation for a major capital project, as | | specifically authorized by the voters in a referendum vote | | authorizing the local option wage tax, has been satisfied, or | | when the voters in a referendum vote to deauthorize the local | | option wage tax, the municipal officers shall notify the | | assessor, and the local option wage tax is repealed on the first | | day of the month following 90 days after that notification. |
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| | | 8.__Referendum.__The question of whether to impose a local | | option wage tax must be submitted to the legal voters of a | | municipality that seeks to impose the local option wage tax. |
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| | | The petition process and the voting at elections held in towns | | and plantations must be held and conducted in accordance with | | Title 30-A, sections 2528, 2529 and 2532, even if the | | municipality has not accepted the provisions of Title 30-A, | | section 2528.__The voting at elections held in municipalities | | must be held and conducted in accordance with Title 21-A.__The | | municipal clerk shall make a return of the results, certify the | | results and send them to the Secretary of State.__The Secretary | | of State shall forward the results to the assessor and the | | Treasurer of State.__The municipal clerk shall prepare the | | required ballots, which must contain the following question: |
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| | | "Do you approve the imposition of a tax on wages earned | | within the municipal corporate limits of (name of | | municipality) at the rate of____% with all proceeds | | dedicated to the financing of a major capital project that | | is reasonably estimated to cost $____ for construction, | | renovation or expansion and is further described as follows: |
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| | | ________________________________________________________ ?" |
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| | | The voters shall indicate by a cross or check mark placed against | | the word "Yes" or "No" their opinion of the same. |
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