(A) To provide funds for the purchase of general municipal operations, including wages and salaries of employees, purchase of new equipment, maintenance, extension and enlargement if municipal services and facilities and capital improvements of the Village of Carey and for necessary debt service, there shall be, and is hereby, levied a tax on Municipal Taxable Income, as herein defined in Section 172.03 division 20(A).
(B) Subject to the provisions of this ordinance, an annual tax for the purposes specified above shall be imposed on and after January 1, 2016, at the rate of one and one-half percent (1 1/2%)per annum. (Ord. 2015-21. Passed 11-30-15.)