A. After the system has been completed and accepted, the full ownership of it shall vest in the municipality, except where the lighting system has been installed on a one-time rental or lease basis, in which case the lighting system shall remain the property of the lessor. The governing authority of a municipality may assist the illuminating district by paying any part for the equipment or installation of the lighting system out of its available funds.
B. For the purpose of operating and maintaining such a lighting system, the governing authority of a municipality is hereby authorized to levy a special ad valorem tax not to exceed in any one year five mills for a term not to exceed ten years on all taxable property located within the boundaries of an illuminating district, except railroad rights of way and tracks located thereon. An ordinance imposing the tax herein authorized shall be adopted by a municipal governing authority only after the question of the imposition of the tax, including its rate, purpose, and duration, has been submitted to the electors of the illuminating district at an election called and held for that purpose in accordance with the election laws of the state of Louisiana and a majority of those voting in the election have voted in favor of the proposition.