The funds collected under the provisions of this chapter shall be placed in the “Earned Income Tax Fund” and shall be applied for the following purposes, and in the following order, to wit:
(a) Such part thereof as shall be necessary to defray all cost of collecting taxes levied by this chapter and the cost of administering and enforcing the provisions hereof.
(b) Such part thereof, to be determined later, as is necessary for the purpose of paying any refunds payable under this chapter.
(c) The balance of the funds so collected shall be used for such specific purposes as Council may appropriate moneys for from this Fund, including without limitation, the appropriation of funds for general municipal operations and debt retirement, extension, enlargement or improvement of municipal services and facilities, street improvement and repairs and permanent improvements.
(Ord. 61-45. Passed 12-28-61.)