(1) This section establishes the procedure for determining whether a county historical fund should be created. The question shall be decided by election. The governing body of a county:

(a) May order the election on its own resolution; or

(b) Shall order the election when a petition is filed as provided in this section.

(2) An election under this section shall determine:

(a) Whether a county historical fund should be created; and

(b) The amount of taxes to be levied annually for the fund.

(3) The resolution or the petition calling an election under this section shall designate the amount of taxes to be levied annually for the county historical fund.

(4) The requirements for preparing, circulating and filing a petition calling an election under this section shall be as provided for an initiative petition in ORS § 250.165 to 250.235.

(5) Notwithstanding subsection (4) of this section, if ORS § 250.155 makes ORS § 250.165 to 250.235 inapplicable to a county, the requirements for preparing, circulating and filing a petition under this section shall be as provided for an initiative petition under the county charter or an ordinance adopted under the county charter.

(6) The notice, time and manner of election shall be governed by the applicable provisions of ORS chapters 246 to 260.

(7) An election under this section may be held only on the date of a statewide general election. [1983 c.350 § 228 (enacted in lieu of 358.170); 1995 c.79 § 198; 1999 c.21 § 71]