The funds collected under the provisions of this chapter shall be deposited in the Village's General Fund and said funds shall be disbursed in accordance with the provisions contained in the annual “Appropriations Ordinance”. Notwithstanding the foregoing, one-quarter of one percent (0.25%) of the proceeds of the Municipal income tax shall be utilized for capital improvement projects within the Village, pursuant to Section 234.04. Said funds shall accrue in a separate Capital Improvement Projects Fund which shall not exceed four million dollars ($4,000,000).
(Ord. 2010-51. Passed 5-12-10; Ord. 2014-49. Passed 4-9-14.)