2.__Commissioner to notify assessor.__ The Commissioner of Economic and Community Development shall notify the assessor whenever the commissioner certifies a local option sales and use tax pursuant to this section.

§1876.__Distribution of revenues

Beginning on the 15th day of the 2nd month following the month in which a tax adopted pursuant to this chapter first becomes effective, and on the 15th day of each month thereafter, the assessor shall identify the amount of revenues that have been collected pursuant to local option sales and use taxes adopted pursuant to this chapter, including tax, interest and penalties, net of refunds, credits and other appropriate adjustments.__The assessor shall determine the amount of such revenues attributable to each eligible municipality and subtract 2%, which must be credited to the Local Option Sales Tax Fund, established in the Department of Administrative and Financial Services, Bureau of Revenue Services.__The assessor shall certify to the Treasurer of State the net amount due each eligible municipality.__The Treasurer of State shall make monthly payments to municipal treasurers of the net amounts certified by the assessor under this subsection.__Revenues collected pursuant to taxes imposed under this chapter do not constitute receipts from the taxes imposed under this Part for purposes of transfers to the Local Government Fund under Title 30-A, section 5681.

§1877.__Use of proceeds by eligible municipality

The revenue raised by the adoption of a local option sales and use tax must be held by the eligible municipality in a segregated account.__Revenue from that account may be expended only for the purpose or purposes specified in the referendum on the adoption of the tax, or to pay general obligation debt issued for the approved purpose or purposes.__If the proceeds exceed the maximum amount specified in the referendum for the financing of