Alabama § 45-8A-115 Additional Ad Valorem Taxes; Special Election Approval; Use of Proceeds

Alabama Statutes

§ 45-8A-115 — Additional Ad Valorem Taxes; Special Election Approval; Use of Proceeds

Alabama·Title 45 Local Laws·Ch. 8A Calhoun County Municipalities·Art. 11 Oxford·Part 6 Taxation

(a)In accordance with the pertinent provisions of Amendment 373 of the Constitution of Alabama of 1901, the governing body of the City of Oxford, Alabama, in Calhoun County and Talladega County may levy and provide for the collection of an additional 15 mills ad valorem taxes on taxable property situated within the city.

(b)The additional ad valorem taxes levied and collected pursuant to this section are subject to the approval of a majority of the qualified electors residing in the City of Oxford who vote on the proposed additional ad valorem taxes at a special election called and held for such purpose as provided for in Amendment 373 of the Constitution of Alabama of 1901.

(c)The net proceeds from any additional revenue accruing to the city from the additional tax revenue resulting fr

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(a) In accordance with the pertinent provisions of Amendment 373 of the Constitution of Alabama of 1901, the governing body of the City of Oxford, Alabama, in Calhoun County and Talladega County may levy and provide for the collection of an additional 15 mills ad valorem taxes on taxable property situated within the city.
(b) The additional ad valorem taxes levied and collected pursuant to this section are subject to the approval of a majority of the qualified electors residing in the City of Oxford who vote on the proposed additional ad valorem taxes at a special election called and held for such purpose as provided for in Amendment 373 of the Constitution of Alabama of 1901.
(c) The net proceeds from any additional revenue accruing to the city from the additional tax revenue resulting from this section shall be paid to the municipal general fund and shall be allocated and expended solely for public school purposes within the city.

Alabama § 45-8A-115 (Additional Ad Valorem Taxes; Special Election Approval; Use of Proceeds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.