MS HB1602

Authorizes the City of Clarksdale, Mississippi governing authorities to levy an additional ad valorem tax not to exceed 14 mills on taxable property within the city.

Tax revenue may be used for capital improvements including street and sidewalk construction, water and utility system repairs, bridge construction, and sanitation and sewerage system improvements.

Requires the governing authorities to adopt a resolution and hold a public election, with notice published for at least three consecutive weeks before the election date.

Tax may only be imposed if at least 60% of qualified electors voting in the election vote in favor of the tax.

Requires separate accounting and annual independent audits of tax revenues, which must be placed in a special fund separate from the city's general fund.