§ 233. Procedure on tax limit increase. 1. In accordance with section\nten of article eight of the constitution, the amount to be raised in any\ncounty by tax on real estate in any fiscal year for county purposes, in\naddition to providing for the interest on and the principal of all\nindebtedness, shall not exceed an amount equal to one and one-half per\ncentum of the average full valuation of taxable real estate of such\ncounty, less the amount to be raised by tax on real estate in such year\nfor the payment of the interest on and the redemption of certificates or\nother evidence of indebtedness described in paragraphs A and D of\nsection five of article eight of the constitution, or renewals thereof.\nIf any joint indebtedness described in title one-A of article two of the\nlocal finance law is allocated and apportioned, or is excluded, under or\npursuant to such title or any other provision of law for the purpose of\ndetermining the debt-contracting power of a county, city, town, village\nor school district, such allocation and apportionment, or exclusion,\nshall not limit the amount to be raised in any county outside the\nforegoing limitation, or outside such limitation as increased as\nhereinafter provided in this section, to provide for the interest on and\nthe principal of any greater proportionate share of such debt service\nwhich the county has agreed or is required to provide. The total of the\namounts which may be so raised by all participating public corporations\noutside any limitation imposed by or pursuant to section ten of article\neight of the constitution to provide for their respective portions of\nany payment of principal or of interest on joint indebtedness shall not\nexceed the full amount required to be provided by all of such\nparticipants to make any such payment. The average full valuation of\ntaxable real estate of a county shall be determined by taking the\nassessed valuations of taxable real estate on the last completed\nassessment rolls and the four preceding rolls of such county, and\napplying thereto the ratio which such assessed valuation on each of such\nrolls bears to the full valuation, as determined by the state officer or\nagency authorized to make such determinations.\n 2. The limitation imposed by or pursuant to section ten of article\neight of the constitution and subdivision one of this section on the\namount that may be raised in a county by tax on real estate in any\nfiscal year for county purposes may be increased from time to time to\nnot to exceed the two per centum maximum limitation imposed by such\nsection of the constitution. Any such increase may be effectuated by a\nresolution of the board of supervisors:\n a. Approved by the affirmative vote of two-thirds of the whole number\nof its membership, or\n b. Approved by the affirmative vote of a majority of the whole number\nof its membership submitting a proposition for such increase to a\nmandatory referendum to be held pursuant to article three of this\nchapter. Such proposition shall not become effective until the approval\nthereof at such referendum. The board of supervisors shall not have\npower to take action pursuant to paragraph a of this subdivision unless\nthe proposed resolution shall have been presented at a meeting of the\nboard held not less than two weeks and not more than three months before\nthe meeting at which the vote thereon is taken and a public hearing, at\na time and place fixed by the board, shall have been held on such\nproposed resolution after a notice of such hearing, including the time\nand place thereof, shall have been published not less than ten days\nprior thereto in the official newspapers and also in such other\nnewspapers having general circulation in the county as shall be\ndesignated by the board for such purpose.\n 3. A resolution adopted pursuant to subdivision two of this section\nshall specify:\n a. That the board of supervisors (1) approves the increase in the tax\nlimitation pu
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