(A) The Town Council supports the levy of an additional $0.005 local government sales and use tax authorized by § 34.14(a) of S.L. 2001-424 as amended by S.L. 2002-128 and codified as G.S. Ch. 105, Art. 44.
(B) Collection of the tax by the State Secretary of Revenue, and liability therefore, shall begin and continue on and after December 1, 2002.
(C) The net proceeds of the tax levied herein shall be distributed by the Secretary of Revenue to the town as prescribed by G.S. § 105-520. The amount distributed to the county shall be divided among the county and the municipalities herein in accordance with the method by which the 1% sales and use tax levied in the county, pursuant to G.S. Ch. 105, Art. 39, are distributed.
(Ord. passed - -2002)