(a)The governing authority of a qualified consolidated government voting to impose the tax authorized by this part within the special district shall notify the qualified consolidated government election superintendent by forwarding to the superintendent a copy of the resolution or ordinance of the governing authority calling for the imposition of the tax. Such ordinance or resolution shall specify:
(1)The aggregate maximum cost of the project or projects which shall be funded from the proceeds of the tax;
(2)The maximum amount of net proceeds to be raised by the tax, which shall be equal to the amount specified in paragraph (1) of this subsection; and (3) If general obligation debt is to be issued in conjunction with the imposition of the tax, as authorized by this part, the principal a
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(a) The governing authority of a qualified consolidated government voting to impose the tax authorized by this part within the special district shall notify the qualified consolidated government election superintendent by forwarding to the superintendent a copy of the resolution or ordinance of the governing authority calling for the imposition of the tax. Such ordinance or resolution shall specify: (1) The aggregate maximum cost of the project or projects which shall be funded from the proceeds of the tax; (2) The maximum amount of net proceeds to be raised by the tax, which shall be equal to the amount specified in paragraph (1) of this subsection; and (3) If general obligation debt is to be issued in conjunction with the imposition of the tax, as authorized by this part, the principal amount of the debt to be issued, which shall not exceed $250 million; the interest rate or rates or the maximum interest rate or rates which such debt is to bear; and the amount of principal to be paid in each year during the life of the debt. (b) Upon receipt of the resolution or ordinance, the qualified consolidated government election superintendent shall issue the call for an election for the purpose of submitting the question of the imposition of the tax to the voters of the qualified consolidated government. The qualified consolidated government election superintendent shall issue the call and shall conduct the election on a date and in the manner authorized under Code Section 21-2-540 . The qualified consolidated government election superintendent shall cause the date and purpose of the election to be published once a week for four weeks immediately preceding the date of the election in the legal organ of the qualified consolidated government or in a newspaper having general circulation in the qualified consolidated government at least equal to that of the legal organ. If general obligation debt is to be issued in conjunction with the imposition of the tax, the notice published by the qualified consolidated government election superintendent shall also include, in such form as may be specified by the qualified consolidated government governing authority, the principal amount of the debt which shall not exceed $250 million, the rate or rates of interest or the maximum rate or rates of interest the debt shall bear, and the amount of principal to be paid in each year during the life of the debt; and such publication of notice by the qualified consolidated government election superintendent shall take the place of the notice otherwise required by Code Section 36-80-11 or by subsection (b) of Code Section 36-82-1 , which notice shall not be required. (c) (1) The ballot shall have written or printed thereon the following: "() YES Shall a special 0.5 percent sales and use tax be imposed in the special district of __________________ in order to raise $__________________ to fund coliseum capital outlay projects and related project costs?" () NO (2) If debt is to be issued, the ballot shall also have written or printed thereon, following the language specified by paragraph (1) of this subsection, the following: "If imposition of the tax is approved by the voters, such vote shall also constitute approval of the issuance of general obligation debt of __________________ in the principal amount of $__________________ for the above purpose." (d) All persons desiring to vote in favor of imposing the tax shall vote "Yes" and all persons opposed to levying the tax shall vote "No." If more than one-half of the votes cast are in favor of imposing the tax, then the tax shall be imposed as provided in this part; otherwise, the tax shall not be imposed and the question of imposing the tax shall not again be submitted to the voters of the qualified consolidated government until after 12 months immediately following the month in which the election was held; provided, however, that, if an election date authorized under Code Section 21-2-540 occurs during the twelfth month immediately following the month in which such election was held, the question of imposing the tax may be submitted to the voters of the qualified consolidated government on such date. The qualified consolidated government election superintendent shall hold and conduct the election under the same rules and regulations as govern special elections. The qualified consolidated government election superintendent shall canvass the returns, declare the result of the election, and certify the result to the Secretary of State and to the commissioner. The expense of the election shall be paid from qualified consolidated government funds. (e) (1) If the proposal includes the authority to issue general obligation debt and if more than one-half of the votes cast are in favor of the proposal, then the authority to issue such debt in accordance with Article IX, Section V, Paragraph I of the Constitution is given to the proper officers of the qualified consolidated government; otherwise such debt shall not be issued. If the authority to issue such debt is so approved by the voters, then such debt may be issued without further approval by the voters. (2) If the issuance of general obligation debt is included and approved as provided in this Code section, then the governing authority of the qualified consolidated government may incur such debt either through the issuance and validation of general obligation bonds or through the execution of a promissory note or notes or other instrument or instruments. If such debt is incurred through the issuance of general obligation bonds, such bonds and their issuance and validation shall be subject to Articles 1 and 2 of Chapter 82 of Title 36, except as specifically provided otherwise in this part. If such debt is incurred through the execution of a promissory note or notes or other instrument or instruments, no validation proceedings shall be necessary and such debt shall be subject to Code Sections 36-80-10 through 36-80-14 , except as specifically provided otherwise in this part. In either event, such general obligation debt shall be payable first from the separate account in which are placed the proceeds received by the qualified consolidated government from the tax authorized by this part. Such general obligation debt shall, however, constitute a pledge of the full faith, credit, and taxing power of the qualified consolidated government; and any liability on such debt which is not satisfied from the proceeds of the tax authorized by this part shall be satisfied from the general funds of the qualified consolidated government.