In all counties which prior to December 1, 1981, have adopted a local sales tax under the provisions of §§ 26-74-301 — 26-74-314, there is also levied a local compensating tax, which in all respects shall be administered and enforced in accordance with the provisions of §§ 26-74-301 — 26-74-314 and the ordinance levying the local sales tax.