§7-3-13. Limitation on amount of debt; increase of levies.
Notwithstanding the provisions of general law, any county
court authorized by this act to issue bonds, may become indebted
for the purposes in this act authorized, to any amount, including
all other indebtedness, up to but not exceeding five percent of the
value of the taxable property in such county as shown by the last
assessment thereof for state and county purposes next prior to the
authorization of such bonds, subject to the levy limitations as
provided in the constitution. For the purpose of effectuating the
provisions and purposes of this act and for the purpose of
obtaining revenue to pay said bonds and their interest, or for the
purpose of redeeming said bonds in whole or in part, such court may
and is authorized to increase the levies on each class of property
not to exceed fifty percent of the rates authorized by section ten,
article eight, chapter sixty-seven, acts of the Legislature, second
extraordinary session, one thousand nine hundred thirty-three, not
to exceed three years, and may submit to the voters of the county
the question of authorizing such increase, not to exceed three
years, at the same time and as a part of the scheme to issue said
bonds and provide for the payment thereof. Such increase of levies
shall not continue for more than three years without submission to
the voters, but the question of future levy increases for such
purposes may be again submitted to the voters.
Upon the question of issuance of such bonds, providing for the
payment thereof, the increase of said levies, at least sixty percent of the votes cast shall be in favor thereof, as provided by
general law.