The board of education of Lawrence county may designate and establish a special school district within the school district in which the municipality of Courtland is located, and it may become indebted and issue bonds in an amount not exceeding one hundred thousand dollars ($100,000) for the construction and equipment of a school building within said district. To pay said indebtedness, and the interest thereon, Lawrence county may levy and collect an annual tax on all property situated within said district, at a rate not in excess of five mills; provided, whenever enough has been collected to retire the bonds and pay the interest thereon the tax will cease and any surplus remaining will revert to the Courtland school district. The indebtedness, the bonds, and the tax herein authorized shall be in addition to those heretofore authorized; but no such additional indebtedness shall be incurred, no such bonds shall be issued, and no such tax shall be levied, until the estimated cost of constructing and equipping said school building hereby proposed to be built, its time of completion, and the amount of the increased indebtedness, the rate of interest to be paid thereon, and the period over which the bonds to be issued will be refunded, shall have been determined upon and made public by the board of education of said county, and the proposed increase in indebtedness and the issuance of bonds and the increase in the rate of taxation shall have been authorized by a majority of the qualified electors of said special school district voting upon such proposal at an election to be called by the county governing body for said purposes, said election to be held not less than sixty (60) nor more than one hundred twenty (120) days after the adoption of this amendment. The election provided for herein shall be called, held, and conducted as three-mill school tax elections are held pursuant to article 7, chapter 10, Title 52 of the Code of Alabama (1940).
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