59-12-353. Additional municipal transient room tax.
The governing body of a municipality may, in addition to the tax authorized under Section, impose a tax of not to exceed .5% on charges for the accommodations and services described in Subsectionif the governing body of the municipality:
(1) before January 1, 1996, levied and collected a license fee or tax under Section; and 10-1-203
(2) before January 1, 1997, took official action to obligate the municipality in reliance on the license fees or taxes under Subsectionto the payment of debt service on bonds or other indebtedness, including lease payments under a lease purchase agreement. (1)