§ 45-56-242-29

(a) If the governing body of the county elects to levy andimpose any of the taxes herein authorized to be levied and imposed,it shall specifyin the resolutionlevying and imposing the taxes the first day of the second calendar month nextfollowing that during which such levy is made as the effective date of thelevy. The resolution may provide suchother terms or provisions relating to the levy, collection, administration, andenforcement of the taxes as are not contrary to or inconsistent with thissubpart.(b) The governing body of the county, at any time and from time to timeafter the levy of any of the taxes herein authorized, but subject to succeedingprovisions of this section, and subject to constitutional limitations on theimpairment of contracts, may terminate any of the taxes herein authorized to belevied by it.(c) No tax levied hereunder may be terminated by the county,as authorized in the preceding provisions of this section,if there are at the time outstanding and unpaid any bonds,warrants, notes, or other securities or obligations issued by the county, andwhich by their terms are payable, in whole or in part, out of,

n,if there are at the time outstanding and unpaid any bonds,warrants, notes, or other securities or obligations issued by the county, andwhich by their terms are payable, in whole or in part, out of, or secured by apledge of, any revenues or proceeds from any of the taxes.(d) The governing body of the county shall adopt a resolution terminatingany tax levied pursuant to this subpartimmediately upon all bonds, warrants, notes, or other securities orobligations issued by the county to construct and open for operation a licensedhospital facility, and which by their terms are payable, in whole or in part,out of, or secured by a pledge of, any revenues or proceeds from any of thetaxes, shall have been fully paid and retired.It is expressly understood that the governing body of the county shallnot continue any taxes to pay or retire any debt, bonds, warrants,notes, or other securitiesor obligations issued by the county not incurred to construct and open foroperation a licensed hospital facility.(e) In the event that any or all taxes are so terminated, any proceedsthereof that are at the time on deposit with the county that are thereafterreceived, shall be held by the county and expended

ity.(e) In the event that any or all taxes are so terminated, any proceedsthereof that are at the time on deposit with the county that are thereafterreceived, shall be held by the county and expended only for purposes for whichthe taxes were herein authorized to be levied.(Act 2015–74, p. 269, § 12.)