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prescribed by the Local Government Commission and shall <br /> demonstrate that the county or municipality can provide for its <br /> ,~. public school or water and sewage capital needs without <br />: restricting the ,]se of part or all of the designated amount of <br /> the additional o ~,- '~ <br /> n_ hal~ percent (1/2%) sales mud ~:~e tax revenu~ <br /> for these purposes. <br /> In making its decision, the Local Government Commission may <br /> consider information from sources other than the petition. The <br /> Commission shall issue a written decision on each petition <br /> stating the findings of the Commission concerning the public <br /> school or water and sewage capital needs of the petitioning <br /> county or municipality and the percentage of revenue otherwise <br /> restricted by subsection (a) or (b) that may be used by the <br /> petitioning county or municipalit~ for any lawful purpose. <br /> Decisions of the Commission allowing counties o~ municipalities <br /> to use a percentage of their tax revenue that would otherwise be <br /> restricted under subsection (a) or (b) for any lawful purpose are <br /> final and shall continue in effect until the restrictions impose~ <br /> by those subsections expire. A county or municipality whose <br /> petition is denied~ in whole or in part, by the Commission may <br /> subseguently submit a new petition to the Commission. <br /> (d) For purposes of determining the number of fiscal years in <br /> which one--h~lf percent (~/~,:)~ ~' sales and use taxes levied under <br /> this Article have been in effect in ~ county or municipality, <br /> these taxes are considered ro be in effect only from the <br /> effective date of the levy of these taxes and are considered to <br /> be in effect for n full fiscal year during the first year in <br /> which these taxes were in effect, regardless of the number of <br /> ~u~t months in that year in which the taxes were actually in effect. <br /> ~_hc (e) ~ county or municipality m~y expend part or all of the <br /> revenue restricted for public school or water and sewage capital <br /> meeds p~rs~ant to subsections (a) and (b) in the fiscal year in <br /> which the revenue is received, or the county or municipality may <br /> place part or all of this revenue in m capital reserve fund and <br /> shall specifically identify this revenue in accor~ ance with <br /> Chapter ~59 of the General Statutes. <br /> <br /> <br />