[Adopted at referendum 3-26-1991, effective 3-27-1991]
The rate of tax increase for the Town of Stratford shall be limited as follows:
During any fiscal year, the increase in the amount of taxes levied shall not exceed the following: a two-percent spending increase based on the amount of budgeted expenditures for the last fiscal year.
In the event of any uncontrollable causes, including natural disasters, state or federal mandates, causing this article to be violative of public policy, the Stratford Town Council may, by 70% vote of its membership, suspend the dictates of this article only with respect to that outside uncontrollable cost, such suspension to be operative only for the fiscal year in question and may be renewed upon a 70% vote of the Council's membership, pertaining to the cost in question only.
In the event that the dictates of § 14-29A are suspended pursuant to § 14-29B, then, in such event, the unused balances appropriated for those line items or costs which have been determined by the Council to be uncontrollable and not subject to § 14-29A shall not be transferred to any other purpose unless the Council expressly declares the transfer of said funds to be necessary for the remediation of a public emergency and unless said transfer be approved by an affirmative vote of not less than eight members of the Council.