(A) No reductions or elimination of other taxes or fees is contemplated.
(B) Revenues from the increased sales and use tax are to be used for the following public infrastructure projects as are allowed pursuant to Neb. RS 77-27,142: only for public infrastructure projects including municipal roads, streets, sidewalks, curbs, and gutters; wastewater collection facilities, including water mains and their appurtenances, water distribution facilities, including, but not limited to, mains and their appurtenances.
(C) The City and the Community Redevelopment Authority of the city have entered into an interlocal agreement which created a separate administrative entity (the city’s Community Infrastructure Cooperative) for purposes of the interlocal agreement, related to public infrastructure projects. The interlocal agreement contains provisions, including benchmarks, relating to the long-term development of unified governance of public infrastructure projects with respect to the parties.
(D) The increased sales and use tax shall terminate no more than ten years after the effective date of the increased sales and use tax or, if bonds are issued and the local option sales and use tax revenue is pledged for payment of such bonds, upon payment of such bonds and any refunding bonds, whichever date is later, except that the portion of the rate greater than 1.5% imposed for the purpose of the interlocal agreement referred to above (rounded to the next higher 0.25%) shall not terminate.
(Ord. 2110, passed 5-23-2022)