All sums collected by this chapter shall be allocated to the general fund of the Village of Cadiz. In accordance with Ordinance No. 2015-25, beginning January 1, 2016 distributions will be made to the following funds:
(A) Equipment Fund, for the replacement of equipment and machinery as needed, to be funded by two percent (2%) of the gross revenues collected from the Village of Cadiz Income Tax, shall be payable to the Equipment Fund (commencing with 1998 and payable each year thereafter).
(B) Street Paving Fund, for the maintenance, repair, paving and resurfacing of Village roadways, streets and alleys, to be funded by three percent (3%) of the gross revenues collected from the Village of Cadiz Income Tax, shall be payable to the Street Paving Fund (commencing with 1998 and payable each year thereafter).
(Ord. 2015-34. Passed 11-19-15.)