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All proceeds resulting from the imposition of the taxes under §§ 116.10 and 116.11 including penalties, shall be paid into the treasury of the City and shall be credited to and deposited in the corporate fund of the City. At the end of each month the records will be examined and a portion of the proceeds shall be distributed as follows: 3% of the initial 2.50% to the Economic Development line item of the Infrastructure Improvement Fund 107 and 6% of the initial 2.50% to the Capital Improvement Fund 302. Ordinance No. 9066 increased the Home Rule Municipal Use Tax by an additional .50%, bringing the total Home Rule Municipal Use Tax to 2.75% effective January 1, 2017. Of the total 2.75%, 2.50% is deposited into the corporate fund of the City and the additional .25% is to be distributed to the Community Reinvestment Fund 310.
(Ord. 8736, passed 4-19-11; Am. Ord. 9066, passed 9-20-16; Am. Ord. 9111, passed 10-3-17; Am. Ord. 9112, passed 10-3-17; Am. Ord. 9116, passed 11-7-17; Am. Ord. 9248, passed 1-21-20; Am. Ord. 9305, passed 1-5-21)