To provide funds for the purposes of general functions, including operating, capital improvement and debt retirement of the Municipality of Chagrin Falls, there shall be and is hereby levied a tax on all salaries, wages, commissions and other compensation, and on net profits as hereinafter. provided. On and after January 1, 1986, all moneys received by the Municipality from such income tax shall be allocated on the basis of eighty-five percent (85%) for general operating purposes, zero percent (0%) for the Permanent Improvement Fund and debt retirement, and fifteen percent (15%) for the Street Construction Maintenance and Repair Fund.
(Ord.1985-32. Passed 11-25-85.)
DEFINITIONS