Commencing with the year 2021 revenue, the annual proceeds from the hereinabove stated tax shall be divided as follows. The Custer Chamber of Commerce shall receive $205,000 for 2021, and annually may receive up to an additional 3% increase over the previous year’s disbursement amount. Any annual percentage increase shall mirror the annual increase in municipal non-ad valorem tax received for the prior year, not to exceed three percent. An annual agreement between the Custer Chamber of Commerce and the City of Custer, to include the amount the Chamber is to receive for the year, shall be approved by Council. Payment shall be made annually to the Custer Chamber of Commerce prior to March 15th.
The remaining portion of the municipal non-ad valorem tax shall be retained by the city to be utilized for purposes allowed in SDCL 10-52A. (Ord. 851 (part), 2021: Ord. 651 (part), 2008; Ord. 534 (part), 2000)