12-138a.   Initiative election on levying tax or other revenue measure.The governing body of any city shall be required to submit to a referendumthe question of levying any tax or other revenue measure, authorized bythe provisions of this act or other enactment referring to this act, uponthe receipt of a petition signed by a number of electors of the city equalto not less than ten percent (10%) of the number of electorswho voted at the last preceding regular city election. If a majority ofthe electors voting thereon at such election shall approve the proposedtax or other revenue measure, the governing body of such city shall thenprovide by ordinance for the levy of such tax or revenue measure. An electionheld under the provisions of this section shall be scheduled and conductedin the same manner as if an ordinance was being submitted to the electors,except that the proposition shall state the nature of the tax or revenuemeasure, its proposed rate and the date it would take effect.

      History:   L. 1977, ch. 56, § 3; May 13.