181.12 ALLOCATION OF FUNDS.

   The funds collected under the provision of this chapter shall be disbursed each calendar year in the following order, to-wit:

   (a)   Such part thereof as shall be necessary to defray all costs of administration and collection; of defending and enforcing the provisions of this chapter and all rules and regulations relating to the same, and such portions of established salaries and expenses of other officials and employees, as may be prescribed by Council, which are attributable to the defense, administration, collection and enforcement of the provisions of this chapter and related rules and regulations.

   (b)   In those instances where claims, demands or judgments are entered against the Municipality which are predicated upon tort, negligence or nuisance attributable to a department, division, bureau or office of the Municipality which is unable to satisfy such claims, demand or judgment by reason of lack of operating or revenue funds, appropriations may be made from Income Tax funds to satisfy such claims, demands or judgments.
(Ord. 2634. Passed 12-13-04.)

   (c)   Commencing January 1, 2015, all revenue collected by and under the Village's income tax ordinances and amendments shall be deposited in the Income Tax Fund #220.41400 and then shall be allocated and transferred according to the following order and percentages and to such of the designated funds:

      (1)   The initial allocation shall be that yearly amount necessary to defray all costs of collecting the income tax and all costs of administering and enforcing the Village income tax ordinances, rules and regulations.

      (2)   Thereafter, the net annual two (2%) percent income tax shall be allocated as follows:

         1.   One-half (1/2%) percent of the income tax [25% of the current total tax] shall be transferred to the Police and Fire Fund #220.41401.

         2.   One and one-half (1 %%) percent of the income tax [75% of the current total tax] shall be transferred as follows:

            a.         % shall be placed in the General Fund #                 .

            b.         % shall be placed in the Capital Fund #                 .

            c.         % shall be placed in the Street Fund #                   .

               (Ord. 3112. Passed 2-23-15.)