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Part and Part 8 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the local | option wage tax, the municipal officers shall notify the assessor | and the local option wage tax is repealed on the first day of the | month following 90 days after that notification.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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