The Council by resolution adopted by a majority of its members, may annually levy a tax for the current expenses on real and personal property. The rate of such tax shall not exceed 3.08 mills.
Any City of Blue Ash tax on income, earnings, wages or salaries may not be at a rate exceeding one and one-quarter percent (1 1/4%) and shall allow a credit for such taxes levied by other municipalities on income, earnings, wages or salaries earned by residents of the City of Blue Ash and on the net profits earned on all businesses, professions or other activities conducted by residents of the City of Blue Ash.
The expenditure (or reservation thereof) of forty percent (40%) of the proceeds of any tax on income, earnings, wages or salaries shall be restricted to capital outlay and/or retirement of debt principal and interest incurred to finance capital outlay.