The funds collected under the provisions of this chapter shall be deposited into the General Fund, and such funds collected shall be dispersed in the following order:
(a) Such part thereof as is necessary to defray the costs of collecting the taxes and the cost of administering and enforcing the provisions of this chapter.
(b) Not more than ninety percent of the net available income tax received annually may be used to defray operating expenses of the City.
(c) At least ten percent of the net available income tax received annually shall be set aside and used for capital improvements for the City, including, but not limited to: public buildings, parks and playgrounds; and necessary equipment for the Police and Fire Divisions and the Public Safety and Public Services Departments.
(Ord. 25-94. Passed 12-20-94; Ord. 42-03. Passed 10-27-03.)