(a) The City of Albertville in Marshall County, Alabama, herein called the city, is presently authorized by applicable provisions of the Constitution of Alabama of 1901 to levy and collect an ad valorem tax for public school purposes, herein called the city school tax, at a rate of seventy-five cents ($0.75) on each one hundred dollars ($100) (7.5 mills on each dollar), of assessed value. Pursuant to a resolution adopted by the governing body of the city in accordance with Amendment 373 to the Constitution of Alabama of 1901, the city proposes to increase the rate at which the city school tax is levied by an amount which shall not exceed for any tax year of the city, one dollar eighty cents ($1.80) on each one hundred dollars ($100) (18 mills on each dollar), of assessed value.
(b) Pursuant to subsection (f) of Amendment 373 to the Constitution of Alabama of 1901, and resolution heretofore adopted by the governing body of the city after a public hearing, the governing body of the city is hereby authorized to increase the rate at which the city school tax is levied and collected by an amount which shall not exceed, for any tax year of the city, one dollar eighty cents ($1.80) on each one hundred dollars ($100) (18 mills on each dollar), of assessed value.
(c) The limitation on the maximum rate of the city school tax contained in subsection (b), shall not be construed to prohibit a subsequent increase in the rate at which the city school tax may be levied pursuant to subsection (f) of Amendment 373 to the Constitution of Alabama of 1901, or any subsequent amendment to the constitution authorizing an increase in the rate at which the city school tax or ad valorem taxes in general are authorized to be levied.
(d) The increase in the rate at which the city school tax may be levied and collected pursuant to this section is subject to the approval of a majority of the qualified electors residing within the city who vote on the proposed increase at an election called and held for such purpose pursuant to subsection (f) of Amendment 373 to the Constitution of Alabama of 1901.
(e) Anything contained in this section to the contrary notwithstanding, the authority granted by this section to the governing body of the city to increase the rate at which the city school tax is levied and collected shall expire 26 years after the first day of the first tax year of the city for which the city school tax is levied at an increased rate pursuant to this section.