The municipal gross receipts tax is to be dedicated for a specific purpose or area of municipal government services listed below as to purposes and amount of dedication:
(A) Extending, enlarging, improving, bettering, purchasing, furnishing, equipping and rehabilitating the city's municipal refuse disposal system, including but not limited to, the acquisition of vehicles and equipment for the collection, transportation and disposal of garbage, trash and other similar waste and refuse and all costs incidental to the foregoing;
(B) Constructing, purchasing, furnishing, equipping, rehabilitating, making additions or making improvements to a building or buildings (which may be a joint city-county building) to be used by the city as a City Hall and for city administrative purposes and for other similar purposes for and in the city and the purchasing and improving of grounds therefor and facilities relating thereto, including but not necessarily limited to, acquiring and improving parking lots and garages therefor or for use, in whole or in part, in connection therewith, and all costs incidental to the foregoing;
(C) The full amount of the municipal gross receipts tax is dedicated to and may be pledged to the payment of that amount necessary to pay the principal of, premium, if any, and interest (herein called "Debt Service Charges") on bonds, notes, other evidences of borrowing and other obligations (herein the "Obligations") whether now or hereafter issued and delivered to finance projects relating to either or both of the purposes specified in divisions (A) or (B) of this section and for the payment of which revenues from the municipal gross receipts tax are pledged. All revenues from the municipal gross receipts tax shall initially be deposited to a special trust fund created hereby and designated the 1984 Gross Receipts Tax Debt Retirement Fund (the "Debt Retirement Fund") in the custody of the City Treasurer, but separate and apart from and not constituting part of the general treasury or general funds of the city, which revenues, at the times and in the amounts required by any City Council ordinance authorizing Obligations, shall first be applied to the payment of the Debt Service Charges on outstanding obligations and any reserves therefor, and second to the payment of any costs or expenses relating to the issuance, carrying, redemption or retirement of such obligations, including transfers to other funds for such purposes and the balance thereof shall be deposited as provided in division (D) of this section. So long as any of the obligations are outstanding and there is not sufficient moneys in the Debt Retirement Fund to meet the full amount of Debt Service Charges on such obligations, the city shall maintain the municipal gross receipts tax imposed by § 4-3-1-1 and shall take all action necessary toward the collection, deposit, and application of the municipal gross receipts taxes as required by §§ 4-3-1-1 et seq. and ordinances of the city authorizing the obligations. At any time that the amount of moneys held to the credit of the Debt Retirement Fund exceeds the amounts required therein as set forth in any ordinance authorizing obligations which are then outstanding, such excess shall be transferred as set forth in division (D) of this section.
(D) The revenues of the municipal gross receipts tax which are not required for the purposes and payments set forth in divisions (A), (B) and (C) of this section and the ordinances authorizing such obligations to be held in the Debt Retirement Fund or applied or transferred to the payments stated in division (C) of this section shall, in the amounts and at the times so available, be withdrawn from the Debt Retirement Fund and deposited in the city's General Fund.
('74 Code, § 4-7-3) (Ord. 49-1981; Am. Ord. 73-1983)