§ 10-7. Collection and expenditure of certain annual revenues.

(a)

The town, by authority of People's Ordinance No. 1-96, adopted and approved by the electorate at the general election held November 5, 1996, is authorized and empowered to collect, retain and expend the full amount of revenues generated during 1996 and each subsequent year by interest on invested funds, by its existing sales and use and real property tax rates, by non-federal grants, and by franchise fees and payments in lieu of franchise fees; and to extend such revenues for:

(1)

Police protection;

(2)

Snow removal;

(3)

Street sweeping;

(4)

Street construction, repair and maintenance;

(5)

Municipal lawns, trees, parks and recreation; and

(6)

Other basic services and lawful municipal purposes;

without limiting in any year the amount revenues from other sources that may be collected and expended by the town.

(b)

Nothing in this section 3-1-7 shall be interpreted to authorize any future increase in the sales and use and real property tax rates without a vote of the people if and when required by article X, section 20, of the state constitution.

(Code 1987, § 3-1-7)