(A) Pursuant to the approval of the electors of the city, at the city’s special election held on August 12, 1997 there is hereby adopted pursuant to the provisions of the Neb. RS 77-2701 to 77-27,135.01, as amended, known as the Nebraska Revenue Act of 1967, and Neb. RS 77-27,142 to 77-27,148, as amended, known as the Local Option Revenue Act of 1969, a sales and use tax effective on and after January 1, 1998, of 1%, (in addition to the current 0.5% sales tax for a total of 1.5%) upon the same transactions within the corporate limits of the city, as the same may, from time to time, be extended, on which the state is authorized to impose a tax pursuant to the provisions of the aforementioned statutes of the state as the same may, from time to time, be amended.
(Prior Code, § 1-825)
(B) The administration of the sales and use tax imposed by this section, the making of returns for the ascertainment and assessment, the provisions for tax claims and remedies, the laws governing consummation of sales, penalties, and collection, and for the disposition and distribution of the taxes so imposed and collected shall be as provided by Neb. RS 77-27,142 to 77-27,148, as amended and Neb. RS 77-2701 to 77-27,135.01.
(C) The tax imposed by this section shall commence on January 1, 1998.
(D) The proceeds of the 1% sales tax shall be used for relief of general property tax requirements, and shall be deposited to the General Fund of the city to pay for all costs and expenses which are lawful for city to pay, including the principal, interest and cost of issuance and all related costs of bonds issued by the city for any and all improvements and public works of the city.
(E) The tax imposed by division (A) above shall be used for community economic development and community redevelopment, as determined by the City Council.
(Prior Code, § 1-826)
(Ord. 682, passed 8-19-1997)